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FOMC Meeting Preview

Markets have mostly pressed the pause button in the lead up to today’s FOMC meeting with gold and the dollar trading in narrow ranges and US stocks ending flat and just off record highs.

bitcoin
Bitcoin plummets 13% in a day

Bitcoin has been slammed for a second day on reports of a technical fault in its blockchain. The US dollar fell again amid strong economic data, sending the pound and the euro higher. The ECB kept policy steady. Today sees the release of January PMIs.

dow_jones
Dow hits intraday record high

The Dow Jones hit a fresh intraday record high on Monday, while tech stocks dragged the Nasdaq index into correction territory, down 10% from its high. The dollar gained as Treasury yields rose and the gold price fell again.

USD
Dollar drops to 2-month low

The dollar is at its lowest in 2 months after Joe Biden was projected to be new President of the United States and the October NFP report came in better than expected.

vaccine_pfizer
FDA approves covid vaccine

Both the Dow and the S&P 500 recorded their first down week in three. On Sunday it was agreed to extend Brexit talks past the latest deadline, while the FDA has approved the Pfizer covid-19 vaccine and will begin vaccinations in the US this week.

Crude_oil_(1)
WTI crude breaks above $50

A rally in oil prices helped lift sentiment on Wall Street but nerves about the Georgia runoff election saw shares in Europe fall. Stocks in Asia rose as Chinese telecoms gained after NYSE reversed the delisting.

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