Hello MarketClub members everywhere. It's expected that the Federal Reserve will hold interest rates steady at its meeting this week as it takes pause to analyze more economic data, but may hint it is on track for a June increase.
The Fed will release its policy decision at 2 p.m. EDT on Wednesday after its two-day meeting. Fed Chair Janet Yellen is not due to hold a press conference at this time.
Most economists feel that the Fed is more confident in its forecast of two more rate increases this year.
Meanwhile, traders seem reluctant to commit to any direction ahead of the Fed's policy review and Friday's jobs report in light of weaker-than-expected economic growth in the first quarter. The French election on Sunday is adding to concern, while the deal to avert a U.S. government shutdown fueled uncertainty about the timing for any Trump policy priorities.
Key levels to watch this week:
S&P 500 (CME:SP500): 2,332.51
Dow (INDEX:DJI): 20,379.55
NASDAQ (NASDAQ:COMP): 5,818.20
Gold (NYMEX:GC.M17.E): 1,272.40
Crude Oil (NYMEX:CL.M17.E): 49.32
U.S. Dollar (NYBOT:DX.M17.E): 99.29
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
Like I said, the dollar has fallen right back to pre-FOMC levels....where is gold...still down $20 at $1227, TOTALLY FRAUDULENT BS, were are the hand cuffs???
These FOMC meetings are a joke, if the weak data is "transitory" then do a rate hike! Now when they don't raise rates, gold does nothing because after a "no hike" FOMC meeting they always leave the open ended fed speak overhang of a rate hike the next month or a few more for the remainder of the year thus keeping gold pegged, even though historically gold does well in a rising or higher rate environment. We just can't win with these lying, cheating criminals. Have you noticed now, when the dollar rises a little bit, gold gets hammered but when the dollar falls back gold does not recover? IT'S ALL RIGGED!