Markets in Holding Pattern Ahead of Fed

Markets were largely range-bound as investors enter a week packed with crucial central bank meetings, economic data releases, a national election in Europe and potentially the formal start of Brexit. Stocks fluctuated with the dollar, while Treasuries slipped.

The S&P 500 Index fluctuated about 1 percent below an all-time high, and European equities rose amid a rally in mining shares after they ended last week at the lowest in two months. The yield on 10-year Treasury notes rose one basis point to 2.58 percent. The euro pared gains as concern that the European Central Bank could raise rates before ending its bond-buying program eased. Oil slipped but held above $48 a barrel in New York.

Global equities are trading near a record high as indications of firming growth in the U.S. and Europe coincide with China’s economy showing signs of improvement. U.S. jobs data at the end of last week cleared the way for the Fed to raise interest rates without forcing it to accelerate the pace for future tightening.


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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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