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Fed is still not considering raising rates anytime soon - Wednesday Review, July 28

Miguel A. Rodriguez
Miguel A. Rodriguez
29 July 2021
The Chinese crackdown continues to impact investor sentiment

The US

Wall Street ended the day in a mixed fashion as the Federal Reserve announced that US economic recovery is on track. Moreover, Chair Jerome Powell said the central bank is still streets away from considering raising interest rates. USA30 declined 0.36%, while USA500 traded 0.02%. TECH100 gained 0.70%.

Crude oil rose 0.88% to $72.28 per barrel.

Gold was up 0.37% to $1,806.50 per ounce.


Asia and Australia

Stocks closed mainly lower as broadening regulatory crackdowns in China roiled stocks, leaving international investors bruised.

Japan225 fell 1.16%.

HongKong45 rose 0.83%, with investors still cautious over the impact of the Chinese crackdown on lucrative sectors.

Down under, Australia200 lost 0.54% as the Q2 consumer price index beat expectations, rising by 0.8% quarter-over-quarter.

USD/JPY rose 0.10% to 109.88.



Markets ended higher, driven by strong earnings in the banking sector and ahead of the latest Federal Reserve meeting outcome. Germany30 and UK100 each traded 0.2% higher. France40 added 0.5%.

Brent oil rose 0.31% to trade at $73.75 a barrel.

EUR/USD was up 0.29% to 1.848.



The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books. 

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