Asia Morning September 17
The U.S. Federal Reserve said it would keep interest rates near zero at least through 2023...
Share this:
On Wednesday, U.S. stocks scrapped earlier gains to close mixed. The Dow Jones Industrial Average was 36 points higher (+0.13%) to 28032, while the S&P 500 declined 15 points (-0.46%) to 3385 and the Nasdaq 100 sank 191 points (-1.67%) to 11247.
Nasdaq 100 Index: Daily Chart
Sources: GAIN Capital, TradingView
As expected, the Federal Reserve decided to keep the its key interest rate unchanged at 0.00%-0.25%. The central bank said it would keep interest rates near zero at least through 2023.
Energy (+4.04%), Banks (+1.43%) and Capital Goods (+1.43%) sectors performed the best, while Technology Hardware & Equipment (-2.33%), Retailing (-1.67%) and Media (-1.4%) sectors lagged behind. Energy companies such as Occidental Petroleum (OXY +8.68% to $11.64), Diamondback Energy (FANG +7.9% to $32.91) and Marathon Oil (MRO +5.07% to $4.56) rallied as oil prices surged 5.0%.
General Electric (GE +10.66%) was the top gainer, while Illumina Inc (ILMN -8.44%) and NVIDIA Corp (NVDA -3.67%) were among the top losers.
Approximately 64.2% (same as in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 53.7% (52.5% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales rose 0.6% on month in August (+1.0% expected).
European stocks were broadly higher. The Stoxx Europe 600 Index advanced 0.58%, Germany's DAX 30 gained 0.29%, France's CAC 40 edged up 0.13%, while the U.K.'s FTSE 100 retreated 0.44%.
The benchmark U.S. 10-year Treasury yield increased one basis point to 0.688%.
U.S. WTI crude oil futures (October) jumped 4.9% to $40.16 a barrel. Oil prices rose after the U.S. Energy Information Administration reported an unexpected reduction of 4.4 million barrels in crude-oil stockpiles (+1.3 million barrels expected).
Spot gold rose $5.00 (+0.25%) to $1,959 an ounce.
On the forex front, the ICE U.S. Dollar Index was broadly stable at 93.10, as the Fed signal that it would keep interest rates at current level through 2023.
EUR/USD dropped 0.3% to 1.1810.
GBP/USD rose 0.6% to 1.2961, posting a three-day rebound. Official data showed that U.K. CPI grew 0.2% on year in August (flat expected). Later today, The Bank of England is expected to keep its monetary policy unchanged (benchmark rate at 0.10% expected).
USD/JPY slid 0.4% to 105.01, down for a third straight session. The Bank of Japan is widely expected to hold its benchmark rate at -0.10% later in the day.
USD/CAD was little changed at 1.3176. Government data showed that Canada's CPI grew 0.1% on year in August (+0.4% expected).
Meanwhile, NZD/USD gained 0.2% to 0.6732, extending its rally to a fourth straight session. New Zealand's economy shrank 12.4% on year in the second quarter (-12.8% expected), according to the government.
Nasdaq 100 Index: Daily Chart
Sources: GAIN Capital, TradingView
As expected, the Federal Reserve decided to keep the its key interest rate unchanged at 0.00%-0.25%. The central bank said it would keep interest rates near zero at least through 2023.
Energy (+4.04%), Banks (+1.43%) and Capital Goods (+1.43%) sectors performed the best, while Technology Hardware & Equipment (-2.33%), Retailing (-1.67%) and Media (-1.4%) sectors lagged behind. Energy companies such as Occidental Petroleum (OXY +8.68% to $11.64), Diamondback Energy (FANG +7.9% to $32.91) and Marathon Oil (MRO +5.07% to $4.56) rallied as oil prices surged 5.0%.
General Electric (GE +10.66%) was the top gainer, while Illumina Inc (ILMN -8.44%) and NVIDIA Corp (NVDA -3.67%) were among the top losers.
Approximately 64.2% (same as in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 53.7% (52.5% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales rose 0.6% on month in August (+1.0% expected).
European stocks were broadly higher. The Stoxx Europe 600 Index advanced 0.58%, Germany's DAX 30 gained 0.29%, France's CAC 40 edged up 0.13%, while the U.K.'s FTSE 100 retreated 0.44%.
The benchmark U.S. 10-year Treasury yield increased one basis point to 0.688%.
U.S. WTI crude oil futures (October) jumped 4.9% to $40.16 a barrel. Oil prices rose after the U.S. Energy Information Administration reported an unexpected reduction of 4.4 million barrels in crude-oil stockpiles (+1.3 million barrels expected).
Spot gold rose $5.00 (+0.25%) to $1,959 an ounce.
On the forex front, the ICE U.S. Dollar Index was broadly stable at 93.10, as the Fed signal that it would keep interest rates at current level through 2023.
EUR/USD dropped 0.3% to 1.1810.
GBP/USD rose 0.6% to 1.2961, posting a three-day rebound. Official data showed that U.K. CPI grew 0.2% on year in August (flat expected). Later today, The Bank of England is expected to keep its monetary policy unchanged (benchmark rate at 0.10% expected).
USD/JPY slid 0.4% to 105.01, down for a third straight session. The Bank of Japan is widely expected to hold its benchmark rate at -0.10% later in the day.
USD/CAD was little changed at 1.3176. Government data showed that Canada's CPI grew 0.1% on year in August (+0.4% expected).
Meanwhile, NZD/USD gained 0.2% to 0.6732, extending its rally to a fourth straight session. New Zealand's economy shrank 12.4% on year in the second quarter (-12.8% expected), according to the government.
On Wednesday, U.S. stocks scrapped earlier gains to close mixed. The Dow Jones Industrial Average was 36 points higher (+0.13%) to 28032, while the S&P 500 declined 15 points (-0.46%) to 3385 and the Nasdaq 100 sank 191 points (-1.67%) to 11247.
Nasdaq 100 Index: Daily Chart
Sources: GAIN Capital, TradingView
As expected, the Federal Reserve decided to keep the its key interest rate unchanged at 0.00%-0.25%. The central bank said it would keep interest rates near zero at least through 2023.
Energy (+4.04%), Banks (+1.43%) and Capital Goods (+1.43%) sectors performed the best, while Technology Hardware & Equipment (-2.33%), Retailing (-1.67%) and Media (-1.4%) sectors lagged behind. Energy companies such as Occidental Petroleum (OXY +8.68% to $11.64), Diamondback Energy (FANG +7.9% to $32.91) and Marathon Oil (MRO +5.07% to $4.56) rallied as oil prices surged 5.0%.
General Electric (GE +10.66%) was the top gainer, while Illumina Inc (ILMN -8.44%) and NVIDIA Corp (NVDA -3.67%) were among the top losers.
Approximately 64.2% (same as in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 53.7% (52.5% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales rose 0.6% on month in August (+1.0% expected).
European stocks were broadly higher. The Stoxx Europe 600 Index advanced 0.58%, Germany's DAX 30 gained 0.29%, France's CAC 40 edged up 0.13%, while the U.K.'s FTSE 100 retreated 0.44%.
The benchmark U.S. 10-year Treasury yield increased one basis point to 0.688%.
U.S. WTI crude oil futures (October) jumped 4.9% to $40.16 a barrel. Oil prices rose after the U.S. Energy Information Administration reported an unexpected reduction of 4.4 million barrels in crude-oil stockpiles (+1.3 million barrels expected).
Spot gold rose $5.00 (+0.25%) to $1,959 an ounce.
On the forex front, the ICE U.S. Dollar Index was broadly stable at 93.10, as the Fed signal that it would keep interest rates at current level through 2023.
EUR/USD dropped 0.3% to 1.1810.
GBP/USD rose 0.6% to 1.2961, posting a three-day rebound. Official data showed that U.K. CPI grew 0.2% on year in August (flat expected). Later today, The Bank of England is expected to keep its monetary policy unchanged (benchmark rate at 0.10% expected).
USD/JPY slid 0.4% to 105.01, down for a third straight session. The Bank of Japan is widely expected to hold its benchmark rate at -0.10% later in the day.
USD/CAD was little changed at 1.3176. Government data showed that Canada's CPI grew 0.1% on year in August (+0.4% expected).
Meanwhile, NZD/USD gained 0.2% to 0.6732, extending its rally to a fourth straight session. New Zealand's economy shrank 12.4% on year in the second quarter (-12.8% expected), according to the government.
Nasdaq 100 Index: Daily Chart
Sources: GAIN Capital, TradingView
As expected, the Federal Reserve decided to keep the its key interest rate unchanged at 0.00%-0.25%. The central bank said it would keep interest rates near zero at least through 2023.
Energy (+4.04%), Banks (+1.43%) and Capital Goods (+1.43%) sectors performed the best, while Technology Hardware & Equipment (-2.33%), Retailing (-1.67%) and Media (-1.4%) sectors lagged behind. Energy companies such as Occidental Petroleum (OXY +8.68% to $11.64), Diamondback Energy (FANG +7.9% to $32.91) and Marathon Oil (MRO +5.07% to $4.56) rallied as oil prices surged 5.0%.
General Electric (GE +10.66%) was the top gainer, while Illumina Inc (ILMN -8.44%) and NVIDIA Corp (NVDA -3.67%) were among the top losers.
Approximately 64.2% (same as in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 53.7% (52.5% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales rose 0.6% on month in August (+1.0% expected).
European stocks were broadly higher. The Stoxx Europe 600 Index advanced 0.58%, Germany's DAX 30 gained 0.29%, France's CAC 40 edged up 0.13%, while the U.K.'s FTSE 100 retreated 0.44%.
The benchmark U.S. 10-year Treasury yield increased one basis point to 0.688%.
U.S. WTI crude oil futures (October) jumped 4.9% to $40.16 a barrel. Oil prices rose after the U.S. Energy Information Administration reported an unexpected reduction of 4.4 million barrels in crude-oil stockpiles (+1.3 million barrels expected).
Spot gold rose $5.00 (+0.25%) to $1,959 an ounce.
On the forex front, the ICE U.S. Dollar Index was broadly stable at 93.10, as the Fed signal that it would keep interest rates at current level through 2023.
EUR/USD dropped 0.3% to 1.1810.
GBP/USD rose 0.6% to 1.2961, posting a three-day rebound. Official data showed that U.K. CPI grew 0.2% on year in August (flat expected). Later today, The Bank of England is expected to keep its monetary policy unchanged (benchmark rate at 0.10% expected).
USD/JPY slid 0.4% to 105.01, down for a third straight session. The Bank of Japan is widely expected to hold its benchmark rate at -0.10% later in the day.
USD/CAD was little changed at 1.3176. Government data showed that Canada's CPI grew 0.1% on year in August (+0.4% expected).
Meanwhile, NZD/USD gained 0.2% to 0.6732, extending its rally to a fourth straight session. New Zealand's economy shrank 12.4% on year in the second quarter (-12.8% expected), according to the government.
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.