Nasdaq 100, S&P 500 Index May Rise Ahead of FOMC Rate Decision

Nasdaq 100, S&P 500 Index May Rise Ahead of FOMC Rate Decision

Sep 14, 2020 (MENAFN via COMTEX) —

(MENAFN – DailyFX) Nasdaq 100, S & P 500, FOMC Interest Rate Decision, Summary of Economic Projections – Talking Points:

A broad risk-on tilt was seen during APAC trade as the haven-associated Japanese Yen and US Dollar lost ground against their major counterparts. Upcoming FOMC interest rate decision could dictate the near-term outlook for US benchmark equity indices. Downside break of Rising Wedge pattern hints at further losses for the S & P 500 index. April uptrend continues to direct the tech-heavy Nasdaq 100 higher. Asia-Pacific Recap

A broad risk-on tilt was seen throughout the Asia-Pacific trading session, as the haven-associated Japanese Yen and US Dollar lost ground against their major counterparts.

The trade-sensitive Australian dollar followed commodity prices higher, as gold climbed above $1940/oz and crude oil clawed back lost ground.

Australia’s benchmark ASX 200 index rose alongside S & P 500 futures as comments from Pfizer CEO Albert Boula, suggesting that a Covid-19 vaccine could be available by year end, spurred investors’ appetite for risk.

Looking ahead, Euro -zone industrial production figures for July headline a rather light economic docket, as attention turns to the upcoming Federal Reserve interest rate decision on September 16.

Market reaction chart created using TradingView

Starts in: Live now: Sep 16 ( 16:09 GMT ) Join Day 2 of the DailyFX Summit discussing indices DailyFX Education Summit: Trade Your Market – Day 2, Indices Register for webinar Join now Webinar has ended FOMC Meeting to Define SPX, NDQ Outlook

The upcoming Federal Open Market Committee (FOMC) meeting could define the near-term outlook for US benchmark equity indices, as the central bank is expected to provide its updated Summary of Economic Projections

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