Federal Reserve holds first policy meeting of 2019 this week | IFCM Turkey
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Federal Reserve holds first policy meeting of 2019 this week

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Renewed global growth concerns after official data confirmed China’s growth in 2018 was at lowest since 1990 weighed on equities markets last week. The S&P 500 slipped 0.2% and the ICE US dollar index lost 0.6%.

Nevertheless major stock indexes, except Britain’s benchmark, extended gains. Britain’s stock market retreated following Brexit deal rejection by UK parliament the previous week: FTSE 100 slumped 2.3%. All Once again it was the British Pound which maintained previous week’s dynamics against the US dollar as other major currency pairs reversed while the range of fluctuations widened. The Pound was the leader in terms of percentage change: it rallied 2.7% against the US dollar.

As more companies unveil corporate results this week, investors’ focus will be on Fed Chairman Powell’s news conference after the Federal Reserve rate decision on Wednesday. And the second most important event this week is the resumption of US-China trade talks as Chinese Vice Premier Liu He meets with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Wednesday and Thursday.

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