FOMC reportedly fears that the rising stocks market might undermine its targets. The hawkish posture unsettled markets briefly on Monday. The crypto market flashed red on 30 January, just a day before the Federal Open Market Committee (FOMC) meeting on 31 January and 1 February, 2023. A report by Bloomberg alleged that the market reaction […]
reiterated that FOMC feared price pressures from stock markets could undermine its target. Fed watchers believed that eased inflation could tip the central bank to stop raising rates and cut them later this year. However, FOMC feared price pressures from such action could undermine its fight against inflation.Wall Street interpreted FOMC sentiment as hawkish, and the market picked the reflections immediately. On Monday, the S&P 500 Index fell by 1.
Similarly, the short-term bearish sentiment on the traditional market spilled into the crypto sector.broke below the $23.5K level, setting most of the altcoin market into a temporary correction., the king of altcoin, was also down by 3% and traded at $1,577, as the crypto market reeled from the hawkish stance of FOMC before the official meeting and announcement.
But the hope for further rally and gains into February now depends on how traditional markets react to the official FOMC announcement. The bearish sentiment picked before the official announcement should signal investors to be cautious and avoid hasty moves.Subscribe to get it daily in your inbox.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold price down a bit ahead of FOMC meetingSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Read more »
Gold, silver tread water just ahead of FOMC meetingSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Read more »
Hedge funds add to their bullish bets on gold ahead of pivotal FOMC decisionKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Read more »
Emergency crews responding to residential fire on Tancred StreetThe fire broke out in the 100 block of Tancred Street shortly after 8:30 p.m.; cause of fire is currently unknown
Read more »
Darrion Caldwell Doesn’t Care to Watch His Opponents, ‘I Can Win 99% of Street Fights’Darrion Caldwell Doesn’t Care to Watch His Opponents, 'I Can Win 99% of Street Fights' Bellator290 TheWolfMMA via MrTudorLeonte
Read more »
Emotions run high during Yonge Street bike lane debateCity council to have the final say on whether cycling lanes will be made permanent over objection of some residents.
Read more »