Will the Fed cut rates today?
The much-anticipated rate decision from the Federal Open Market Committee will be announced today at 18:00 GMT. The Fed is expected to cut rates by 25 basis points – an act that could have a tremendous impact on the market. The decision will be followed by a press conference with Fed Chair Jerome Powell (18:30 GMT) and could impact the USD, Wall Street indices and more.
Today’s highlights: XRP jumps 15%
- XRP skyrockets 15%: While Bitcoin remained nearly flat over the past 24 hours, the altcoin market had some impressive gains. Most notably, XRP, currently ranked 3rd overall by market cap, leapt more than 15% boosted by reports that the Ripple network could undergo a hard fork. Other major gainers include Ethereum (+7%), BNB (+6%) and Stellar (+13%).
- Oil rises slightly: After crossing the $60 mark for the first time in more than two months on Monday, oil prices tumbled 5% yesterday, as Saudi Arabia said it is restoring its oil output following a drone attack earlier this week. The black gold registered small gains this morning and could show more volatility today, as the Crude Oil Inventories report will be released in the US at 14:30 GMT.
- New Zealand GDP data coming tonight: The quarterly GDP report will be released in New Zealand tonight at 22:45 GMT, potentially impacting the Kiwi Dollar.
Stocks earnings releases on 19/09/2019
Earnings season coming to an end: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.