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.
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
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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