Market Recap: Traders Await The Big Event Of The Day
Doomsday is upon us!
Once again markets over in the US traded mixed as the Dow and S&P lost ground the Nasdaq rose 0.18%. No such issues in the Asia Pac area as the Nikkei (0.36%), Shanghai Comp. (1.08%) and ASX (0.10%) all increased in value.
In commodities markets, spot WTI fell from a high of $72.73/bbl after a build in the API inventory levels. The API Weekly Crude Oil Stocks reported levels at 2.903M vs the previous 1.250M.
Gold this morning continues to hover around the $1200/oz level ahead of the FOMC rate decision. Market participants are looking to find clues to figure out of the Fed will move again after the 0.25bps rate hike priced in this evening.
Copper prices are trading in an indecisive manner at the moment, price action has remained choppy since the Chinese Gov. canceled the trade talks with the United States.
Looking ahead to today's events we have the all-important FOMC rate decision, RBNZ rate decision and weekly DoE's....