US stocks muted ahead of the FOMC meeting

Eliman Dambell Sayvio AI

Equity markets remained jittery on Wednesday, as traders geared up for today’s Federal Reserve rate decision.

The Federal Open Market Committee is set to meet later this afternoon, with the bank expected to lower interest rates by 25 basis points.

This will mark the third consecutive cut by the Fed; however, markets wait to see how the Fed forecasts the economy.

A major contributor to recent economic growth has been Nvidia, which is seen as the key player in AI.

On Tuesday, Trump announced that he would allow China to purchase Nvidia’s advanced H200 chips, with a percentage of sales coming to the government.

Despite this, the chipmaker was largely in the red in today’s session, as questions of demand from China sparked investor concerns.

Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.