US stocks rallied yesterday ahead of the FOMC statement. Investors widely expect the Federal Reserve to end their quantitative easing program today. However, interest rates should remain the same. Earnings season has also been mostly positive and traders have welcomed results which have eased fears of an economic slowdown.
Asian stocks also moved higher across the region as European markets are higher today as attention has now turned to the FOMC statement at the completion of the Fed’s two day meeting.
Oil climbed after US data. The EIA will release data later today at 2:30pm GMT.
Gold is trading choppy as traders eagerly await the result of the FOMC Statement. If any hints towards raising interest rates are made we could see the metal drop below its support at 1,220.
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