21 September 2017 (8:19 AM IST)
20 September 2017 (10:49 PM EDT)
As expected, the Federal Reserve announced reducing its balance sheet from October and hinted at one more rate hike this year.
More than stocks, currency markets are showing bigger impact of this policy announcement from the biggest central bank. The Dollar index has jumped, other currencies are down against the green back, gold is also down.
A drop in yen against dollar has supported Nikkei (Japan) but a drop in rupee against USD has caused SGX Nifty to trade lower, indicating a lower opening in India markets later today.
Global markets are expected to trade in a choppy manner today as currency, commodities and bond markets see a churning after the Fed’s policy and different markets may react differently based on how this policy will affect them locally.
Asia markets are trading mixed. U.S. and European stock futures are also choppy and mixed.
Expect a mixed session in global markets today where the intra day trend can remain volatile and within the weekly range. Any index trading above its previous high will likely see more gains while any index below its previous low will likely see more losses.
Good luck, enjoy the session!