Yahoo Finance Market Snapshot – All Eyes on the Fed
The Fed Is in Focus
All eyes are on the Fed over the short term as the data from the US is out of the way, atleast the most important ones are, and the market is now focussing on what the Fed would do post the results. The inflation came in as per expectations from the US but the anticipation in the market for good data is so much that even data as per expectations are considered bad and the traders now have begun to expect the incoming data to always exceed. This, they believe, would force the Fed on to the path of accelerated rate hikes which would push them to make 4 rate hikes during the course of this year. But the actions of the Trump administration, with regard to hiring and firing and also with regard to the tariffs has kept the markets on tenterhooks and we continue to see the global stock indices trade in a weak manner as far as the overall trend is concerned.
Cryptos Weak
In the crypto markets, the weakness continues as the string of bad news adds to the market which is already under pressure and this adds to the uncertainty that the traders and investors are in, over the last few days. Google added fuel to the fire by saying that they would stop showing ads related to cryptos and ICOs quite soon and this is a further setback to the crypto market considering the fact that FB stopped showing ads a couple of months back. The avenues for pushing through the ICO and the crypto industry are becoming less and less in the short and medium term and that is why some investors and traders might be feeling that they are fighting a lost battle in choosing to fight the establishment and supporting the cryptos and the industry as a whole.
This article was originally posted on FX Empire
