US futures are mixed and EU markets are trading marginally lower this morning as investors await the outcome and predictions of the FOMC meeting, coming out today in the afternoon. Global markets are at a crossroad after a 3-week 25% plus rally from 2020 lows and facing an unclear path with stimulus programs fully priced in, and economic uncertainty ahead. Powell speech is therefore an important near-term signal for global markets as well as a guideline to the US dollar path ahead. FX markets moved away from the dollar yesterday, down by 0.31% vs majors and trading at 96.05, and into the “safe heavens”, the JPY, CHF as well as Gold are all higher this morning ahead of the FED. Gold is up 0.5% and trading at $1,731 per ounce and Silver is marginally higher as well and trading at $18.05 pe ounce. Oil trades at $38.12 per barrel this morning, down 2.24% as investors took profits off the table fearing a rise in US inventories, that’s according to API industry poll that said inventories grew by 8.4 million barrels as oppose to a projected fall in the numbers. OIL official inventories figures are to be reported today at 10:30 am US.

US CPI at 8:30 am, OIL Inventories at 10:30 am and the FOMC meeting and press conference starting at 2:00 pm, are the important news on the agenda Wednesday, (all times EST).

Global Markets 24 hours wrap-up
MarketGBPUSDUSDJPYEURJPYEURUSDGOLDOIL
10.6.200.93%-0.85%0.04%0.02%0.5%-2.25%
EURGBPUSDCHFAUDUSDAUDJPYUSDCADSilverNat Gas
0.02%-0.88%0.87%0.01%-0.4%0.22%-0.75%
Dollar IndexDAXFTSE100CAC40EURSXX50NIKKEI225CSI300
-0.83%-0.16%-0.06%-0.25%-0.14%0.15%-0.18%
1 YEAR5.47%-13.56%
-5.49%-1.21%9.42%11.88%
Swing report
TRADEENTRY PRICEPOSITIONOPEN PROFITDATE TRIGGEREDSTOP LOSSUPDATES
OIL37.946-15010/638.3NEW POSITION
GOLD17194020010/61710NEW POSITION
       
       
       
       
OPEN PROFIT  $50   

Gold investors are awaiting the FOMC meeting outcome as well, expecting more dollar weakness for a break to 2020 highs.

The inventories numbers set to be released at 10:30 am US will impact prices as investors fear another supply glut on weak demand.

Warning: The information provided on this page (“the information”) is for instructional purposes only, for enhancing your general knowledge of the capital market in general and using trading methods and the technical analysis method in particular. We hereby clarify that the company, its management, staff, shareholders and agents do not hold investment advisor licenses and/or portfolio manager licenses by any applicable law, and do not pretend to advise any person on the worthiness of buying, selling, holding or investing in securities and other financial assets. The information should not be construed to be a recommendation or opinion, and any person who makes any decision based on the information – does so entirely at their own risk. Be aware that the information cannot serve in lieu of advice which accounts for specific information and needs of an individual, and that investing in securities and financial assets may cause loss. The company, its management, staff and agents may have a personal interest in issues related to the information, and may hold specific securities mentioned in the information, or similar securities. If you use the information, you waive any claim or demand against the company or anyone acting on its behalf.