This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This website is operated by Moneta Markets Ltd, which is not authorised or regulated by the UK Financial Conduct Authority (FCA) and does not offer or promote services to UK residents. Access to this website is restricted in the UK and the content is not intended for distribution to, or use by, any person located in the UK. If you believe you have reached this website in error, please exit the page now
Please note that Moneta Markets operates this website and its services are not directed at residents of your jurisdiction.
The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
If you have arrived here in error, we kindly advise you to exit the site.
Continue to Site
English
Global markets traded cautiously as investors positioned ahead of the highly anticipated Federal Reserve rate decision. The US Dollar held firm above the 99.00 mark, supported by solid US labor data that reinforced expectations of a measured Fed stance. WTI crude extended losses below $58.50 following the resumption of Iraq’s oilfield operations, easing supply concerns and weighing on energy prices. In currency markets, USD/CAD drifted higher toward 1.3850 as traders awaited back-to-back policy decisions from the Fed and the Bank of Canada. Meanwhile, EUR/USD remained pinned below 1.1650, and the Japanese Yen staged a mild recovery from a two-week low as divergent Fed–BoJ expectations continued to guide flows.
WTI trades below $58.50, pressured by renewed US Dollar strength and improving supply conditions. The resumption of Iraq’s oilfield operations eased supply concerns, while stronger US labor data supported USD gains, weighing further on crude prices.
Geopolitical Risks: Reduced Middle East supply risk after Iraq’s oilfield recovery has softened upward pressure on crude.
US Economic Data: Strong US job data lifted the Dollar, making oil more expensive for non-USD buyers.
FOMC Outcome: Markets await clarity on the Fed’s rate path, which could influence demand expectations.
Trade Policy: US tariff-related uncertainty remains a mild headwind for global oil demand outlook.
Monetary Policy: A firmer Fed stance could cap oil gains by strengthening USD and dampening demand expectations.
Trend: Bearish bias as prices remain below the $59.00 zone.
Resistance: $59.00 and $59.80.
Support: $58.00 followed by $57.30.
Forecast: WTI likely stays pressured unless demand expectations improve post-Fed.
Market Sentiment: Cautious with downside tilt due to supply recovery and USD strength.
Catalysts: Fed decision, EIA inventory data, and further updates from Iraq.
The US Dollar Index trades steady above 99.00, reflecting cautious pre-Fed positioning. Markets await the rate decision for clarity on forward guidance, keeping DXY confined within a narrow intraday range.
Geopolitical Risks: Limited impact, with focus shifting to central bank expectations.
US Economic Data: Solid labor data supports the USD’s resilience.
Trade Policy: US tariff threats introduce mild upside risk for the Dollar.
Trend: Consolidation with slight bullish bias above 99.00.
Forecast: Likely stable until Fed, with potential upside if tone leans hawkish.
Market Sentiment: Neutral but supportive as traders wait for Fed clarity.
Catalysts: FOMC statement, Powell press conference, upcoming US data.
USD/CAD ticked up toward 1.3850 as both Fed and BoC policy decisions approach. Oil weakness added upward pressure on the pair, while traders remain cautious ahead of simultaneous major central bank risk.
Geopolitical Risks: Stable conditions keep CAD’s risk sensitivity moderate.
US Economic Data: Strong US data favors USD over CAD.
FOMC Outcome: A hawkish tilt would support USD/CAD upside.
Trend: Mild bullish tone as long as above 1.3810.
Resistance: 1.3870 and 1.3900.
Support: 1.3810 and 1.3775.
Market Sentiment: Cautious ahead of dual central bank events.
Catalysts: Fed decision, BoC announcement, oil market movements.
EUR/USD remains steady below 1.1650 as traders stay sidelined before the Fed announcement. The pair lacks momentum as USD strength and subdued Eurozone data weigh on upside attempts.
Geopolitical Risks: Eurozone geopolitical quiet keeps focus on macro drivers.
US Economic Data: Strong US data favors USD dominance.
FOMC Outcome: Offers major directional risk—hawkish Fed could push EUR/USD lower.
Trend: Neutral to bearish below 1.1650.
Resistance: 1.1670 and 1.1700.
Support: 1.1620 and 1.1585.
Forecast: Consolidation expected until Fed triggers directional breakout.
Market Sentiment: Muted with pre-Fed caution.
Catalysts: Fed decision, Eurozone sentiment data.
The Japanese Yen recovered from a two-week low against the USD as investors weighed diverging expectations between the BoJ and the Fed. Despite USD strength, some safe-haven demand supported the Yen ahead of key central bank decisions.
Geopolitical Risks: Mild risk-off tone supports JPY slightly.
FOMC Outcome: A hawkish Fed could push USD/JPY higher again.
Trend: Mild corrective bias in favor of JPY.
Resistance: 148.70 and 149.20.
Support: 147.90 and 147.40.
Forecast: Likely range-bound until Fed and BoJ outlooks become clearer.
Market Sentiment: Cautious, slightly JPY-supportive.
Catalysts: Fed decision, BoJ policy remarks, US yields.
Market sentiment remains cautious but steady as traders brace for potential volatility following key central bank announcements. The US Dollar’s firm footing reflects expectations of a balanced but data-sensitive Fed outlook, while commodity markets continue to respond to improving supply conditions. Major currency pairs are likely to see sharper directional moves once the Fed and BoC deliver their policy signals. With interest rate expectations and global growth concerns back in the spotlight, the next 24 hours will be pivotal for setting market tone into the remainder of the week.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
