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Stocks traded lower following FOMC meeting - Wednesday Review, March 17

Miguel A. Rodriguez
Miguel A. Rodriguez
18 March 2021
USA30 and USA500 reached new record highs as the Federal Reserve is keeping its dovish stance

The US

Indices reached new highs after the Federal Reserve announced that it would not lift rates despite economic recovery signs. USA30 rose 0.58%, and USA500 closed 0.30% higher. TECH100 was up 0.40%.

Crude oil traded 0.2% lower at $64.66 per barrel even though last week the inventories fell by 1 million barrels according to data from the American Petroleum Institute. 

Gold rose 0.1% to $1,732.95 per ounce.


Asia and Australia

HongKong45 lost 0.21% as the Sino-US tensions are rising again amid diverging goals that will be discussed at a meeting between the two countries later this week in Alaska.

Japan225 edged down 0.12% after the February trade data showed that exports contracted 4.5% year-on-year.

Down under, Australia200 fell 0.80%.

AUD/USD lost 0.16% reaching 0.7732.



Markets traded predominantly lower. However, Germany30 traded 0.1% higher, boosted by BMW and VW positive outlook for 2021. France40 and UK100 lost 0.1% and 0.4%, respectively.

Brent oil fell 0.4% to $68.11 a barrel.

EUR/USD gained 0.1%, trading at 1.1905.


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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.