Dollar Higher After Fed Hold Rate in November FOMC

World equity markets declined on Thursday and were on track to snap a seven-session winning streak as U.S. stocks remained on the defensive while the U.S. dollar strengthened after the Federal Reserve kept interest rates unchanged.

The U.S. central bank held rates steady and said ongoing strong job gains and household spending had kept the economy on track. Its statement showed little change in the Fed’s outlook for the economy since the Fed’s previous meeting in September aside from noting that “business investment had moderated from its rapid pace earlier in the year.”

“The Fed has recognized that there is one part of the economy that is slowing a little bit, but it is not deterring them from their gradual increase language. Not yet anyway,” said Jamie Cox, managing partner at Harris Financial Group in Richmond, Virginia.

via Reuters

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.