Yahoo Finance Market Snapshot – Markets Await G20 and the Fed
Markets Await the Fed
The stock markets around the world have been falling on the back of withdrawal in the risk sentiment as the choppiness seen in the markets continues for another day. Over the past few days,we have seen the stock indices around the globe moving higher and lower with no specific direction as the investors and traders continue to deal with risk and uncertainty. The latest round of news to drive the uncertainty is the G20 meeting during the first half of the week and this would be followed by the Fed meeting later in the week. The Fed meeting is expected to announce the hike in interest rates for the first time this year and also set the tone for future rate hikes as well. This is something that the market is feeling a bit jittery about and this is what we have been seeing over the past few days.
Crypto Prices Rebound
On the crypto front, we saw the crypto prices crash during the course of the weekend as the fears over the G20 meet on cryptos brought in more uncertainty among the investors and traders who were already under the general fear of how the regulator are going to deal with the crypto world. But the G20 members decided that too much regulation was not needed at this point of time and that the cryptos are not yet in a stage where they would affect the financial system. This proved to be a relief for the markets and we have been seeing the prices rebound since the beginning of the day and this is likely to last for the short term. We do not believe that this is going to be a full reversal as yet but this could be the beginning of something big in the coming weeks as the investors and traders begin to gain more and more confidence.
This article was originally posted on FX Empire