The post Fed holds, Dollar slides and stocks rise appeared on BitcoinEthereumNews.com.

Markets will continue to digest the FOMC meeting. During the Asian session, Australia is scheduled to release trade data and home loan figures. Later in the day, Switzerland will report consumer inflation data. More US employment data is due with the weekly jobless claims, leading up to Friday’s NFP. Here is what you need to know on Thursday, November 2: The Federal Reserve (Fed) decided to keep the fed fund target range unchanged at 5.25% to 5.50%, which was in line with market expectations. The statement issued by the Fed was similar to the one released in September, and Chair Jerome Powell’s remarks did not contain any surprises. Analysts at Wells FArgo on the FOMC: For the third time in the past four policy meetings, the FOMC decided to keep rates on hold today, although it continues to keep the door open to hiking again. It appears to us that the bar for further rate increases is getting increasingly higher. The US Dollar Index erased its gains following Fed Chairman Powell’s press conference. After trading above 107.00 and reaching weekly highs, the DXY closed below 106.70. The US Dollar faced downward pressure due to increased risk appetite and higher demand for Treasuries. In the stock market, the Dow Jones gained 0.67%, while the Nasdaq rose by 1.64%. Regarding US data releases on Wednesday, the results were mixed. The ADP employment report showed a modest increase in private payrolls by 113,000, falling below the market expectation of 150,000 but surpassing September’s figure of 89,000. The JOLTS jobs opening data exceeded market consensus at 9.55 million. However, the ISM Manufacturing PMI unexpectedly dropped to 46.7 in October, lower than the anticipated reading of 49. These figures had minimal impact on the markets. Upcoming data from the US includes the weekly jobless claims…

---

Filed under: News - @ November 2, 2023 1:10 am