According to numerous financial polls there has been a split opinion whether the Federal Reserve should hike or hold the current rates. Both sides of investors are eagerly looking on to the Fed meeting and the BOJ decisions in the next 2 days. Any results will cause rippling effects across the financial sectors. The Dow and NASDAQ fell -0.01%, a slight change.
European shares rose higher following a Friday’s sharp decline led by the major EU banks. The EU markets had experienced over 2 weeks of declines. Both the CAC and FTSE 100 recorded over 1.45% increase at the end of yesterday’s trading session.
On FX, EURUSD rose to a day high of $1.118 following the positive EU markets, but the failed to gain momentum and dropped steadily to around 1.117 region. GBPUSD also rose to 0.5% and reached day highs of $1.308.
Following the OPECS positive news on the Oil markets, investors jumped at the opportunity to try recover the losses experienced in last week’s trading. The WTI Crude reached a day high of $44.68 before slumping back down to around $43.70 per barrel following further speculation of increase supply from Nigeria and Libya. Further decisions are undergoing between the OPEC and non OPEC countries hoping to find a solutions to calm the oil markets.