Market Highlights
by Mark O’Brien, Senior Broker
The Day After FOMC
FOMC Meeting Update
The FOMC left interest rates unchanged today. In language newly added to its policy statement, “Uncertainty around the economic outlook has increased.” Surveys of consumers and businesses, corporate earnings, and financial markets, albeit “soft data,” have suggested that the economic ground may be shifting beneath our feet. Last Friday, the University of Michigan’s preliminary survey of consumer sentiment for March sank for the third straight month, showing sharply lower expectations for the future – regardless of respondents’ party affiliations. Warnings have percolated from airlines and retailers, i.e. Dollar General and Walmart, about underwhelming consumer demand. Outplacement firm Challenger Gray & Christmas announced layoffs reached their highest levels since the summer of 2020, when the pandemic was in full force — and the highest level for the month of February since 2009. That’s all for the FOMC for now.
Metals:
Gold prices edged higher to hover near all-time highs on the heels of Fed Chairman Jerome Powell’s post announcement press conference.
Daily Levels for March 20th, 2025
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Economic Reports
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All times are Eastern Time (New York)
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