empty
25.11.2021 07:16 AM
Fed may raise interest rates and wind down QE program sooner than planned

This image is no longer relevant

Yesterday's macroeconomic calendar was full of important releases from the United States, including the second estimate for third-quarter annualized GDP growth. Although economic growth accelerated to 2.1% on a quarterly basis, the markets expected the indicator to increase by 2.2%. The report on durable goods orders, which was once very important and regularly provoked strong movements, turned out to be weaker than forecasts and did not cause any reaction. Thus, the entire package of US statistics did not exert pressure either on the greenback or the US stock market. Yesterday, the US dollar remained near its annual highs against the euro and the pound sterling, while US stock indices continued trading near their historic highs. In the late trade, the minutes from the Fed meeting held on November 3 were also published. As we noted yesterday, that report might be interesting in terms of the number of Fed members supporting a faster pace of the QE program tapering or earlier interest rate hikes. Considering the way the US dollar has been gaining in value in recent weeks, it could be assumed that the markets are waiting for both steps.

However, in reality, the minutes did not have a severe impact on the dynamics of the markets. The Monetary Committee announced that it was planning to maintain a flexible approach to changes in its monetary policy strategy and would not hesitate if necessary to combat high inflation. Several FOMC members spoke in favor of an earlier-than-planned interest rate hike (the second half of 2022), while some believe that it would be a wise decision to taper the stimulus program at a faster pace. However, the second point came as no surprise to investors, since a week earlier the majority of FOMC members delivered speeches. For instance, St. Louis Federal Reserve President James Bullard advocated for the central bank to take a more aggressive approach to the stimulus wind-down. As for the first point, market participants might have guessed it, given high inflation. What matters now is how the market responds to this information. We still believe that the US dollar's recent rally was mainly triggered by market expectations of the Fed's monetary policy tightening. Therefore, if most market participants see yesterday's report as a hint of a new monetary tightening cycle as early as December, the greenback will most likely continue gaining in value. Speaking of US indices, the stock market is not being weighed down by the decisions made by the FOMC and the rhetoric of some members and Jerome Powell who is likely to remain the head of the US Federal Reserve for a second term. This compels us to reflect on the bubble and worry about its possible bursting. Now it turns out that stock indices are edging higher despite negative factors. However, the reverse should be the case. As the regulator tightens monetary policy, the stock market is supposed to at least correct.

Paolo Greco,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

美國股市6月27日最新動態:標普500指數和納斯達克指數達到新高

S&P 500 指數上漲了 0.80%,而 Nasdaq 100 上漲了 0.97%。道瓊工業平均指數上升了 0.84%。

Jakub Novak 11:58 2025-06-27 UTC+2

Nvidia 股價達到歷史新高

昨日,NASDAQ科技指數在正面區間收市,主要得益於Nvidia Corp.股票的上漲,其股價創下歷史新高。這家領先的AI芯片和半導體生產商持續上升,重奪全球最有價值公司的首位。

Jakub Novak 11:06 2025-06-26 UTC+2

股市正接近危險水準

在24小時圖上的#SPX工具的波浪型態顯得相當清晰。在這個階段,向上趨勢段的形成似乎已經完成。

Chin Zhao 12:35 2025-06-25 UTC+2

6月25日美國股市更新。主要股指信心增強

S&P500 美國主要股指週二收盤概況:道瓊斯指數上漲1.2%,納斯達克上漲1.4%,S&P 500指數上漲1.1%(收於6,092點,位於5,700-6,300區間內)。 股市在整個交易日中均保持上行走勢,受到多重利好因素的支撐: 特朗普總統宣布以色列和伊朗達成停火協議; 油價持續下跌。

Jozef Kovach 11:52 2025-06-25 UTC+2

以色列和伊朗宣布停火,美國股市上升趨勢持續

S&P500 美國股市主要指數週一概況:道瓊斯指數 +0.9%,納斯達克指數 +0.9%,S&P 500 +1%,S&P 500 位於 6,025,範圍 5,600–6,200 在6月24日的清晨,Donald Trump 在他的社交媒體平台上宣布以色列和伊朗達成了停火協議。據Trump所述,雙方將在6小時內停止炮擊,並在此後的12小時內完全停火。

Jozef Kovach 12:37 2025-06-24 UTC+2

6月24日美國股指最新消息:在利好消息推動下,SP500和NASDAQ大幅上漲

美國股市指數昨日收高。標普500指數上漲0.94%,納斯達克100指數也上漲了0.94%。

Jakub Novak 10:54 2025-06-24 UTC+2

標準普爾500指數2025年6月24日預測

S&P 500 新的一周隨著S&P 500的強勁增長而開始。週線圖中,平衡線指標(紅色移動平均線)的支撐在推動向上運動方面發揮了良好作用。

Laurie Bailey 04:44 2025-06-24 UTC+2

6月23日美國股市更新。美國股市指數漲跌互見。由於地緣政治緊張局勢,石油價格上漲。

上週五,美國股市指數漲跌互見。S&P 500 指數下跌 0.22%,Nasdaq 100 指數下跌 0.55%,而工業指數 Dow Jones 則上漲 0.08%。

Jakub Novak 11:09 2025-06-23 UTC+2

美國股市的上升趨勢即將破裂。市場是否能維持牛市動能直到夏末呢?

美國股市表面上保持穩定,但這種平靜下的基礎可能顯得脆弱。指數仍然接近歷史高點。

Anna Zotova 17:09 2025-06-20 UTC+2

在邊緣遊戲:市場能否再度忽視地緣政治?

美國股市繼續無視地緣政治現實。指數已接近關鍵水平,準備突破。

Anna Zotova 13:27 2025-06-17 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.