Markets in Holding Pattern Ahead of Fed

Markets were largely range-bound as investors enter a week packed with crucial central bank meetings, economic data releases, a national election in Europe and potentially the formal start of Brexit. Stocks fluctuated with the dollar, while Treasuries slipped.

The S&P 500 Index fluctuated about 1 percent below an all-time high, and European equities rose amid a rally in mining shares after they ended last week at the lowest in two months. The yield on 10-year Treasury notes rose one basis point to 2.58 percent. The euro pared gains as concern that the European Central Bank could raise rates before ending its bond-buying program eased. Oil slipped but held above $48 a barrel in New York.

Global equities are trading near a record high as indications of firming growth in the U.S. and Europe coincide with China’s economy showing signs of improvement. U.S. jobs data at the end of last week cleared the way for the Fed to raise interest rates without forcing it to accelerate the pace for future tightening.

Bloomberg

GBP Volatile as Surgeon Calls Scexit Referendum

Week Ahead All Eyes on Fed

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.