Headlines:
Markets:
It is pretty much the calm before the storm.
As markets brace for the Fed decision later, European markets were mostly steadier in trading today. Oil prices and bond yields are coming off the boil, affording a breather to investors ahead of the crucial Fed policy meeting conclusion that is to come.
Brent crude is down 1.4% to $107.20 while WTI crude is down over 2% to $103.35, and 10-year Treasury yields have also eased in slipping to 4.983% on the day.
The retreat looks more like position squaring ahead of the Fed rather than a fundamental rethink, particularly with oil still above $100 and 10-year yields hovering just below the 5% mark.
Elsewhere, the dollar is trading relatively flat today, with little changes among major currencies in general.
UK inflation data reaffirmed a move up in headline CPI for August but as core prices remained steady, that is not going to do much to change the BOE picture ahead of their own decision tomorrow.
In other markets, European stocks are pushing up slightly in cutting some losses from earlier this week. Meanwhile, US futures are also holding a little higher with S&P 500 futures up 0.2% and Nasdaq futures up by 0.4% currently.
Looking to precious metals, gold is up 1.4% to $4,351 and silver up 1.9% to $64.85 in a modest bounce ahead of US trading later.
But again, this all feels like more of a breather rather than any major turn in sentiment. It's still all to play for with the Fed decision and Warsh's press conference later today. That will be the main event for markets, potentially setting the tone for the remainder of the week.
This article was written by Justin Low at investinglive.com.
Source: Investing Live - News
