Markets mixed ahead of Fed interest rate decision - 29.1.2025

The Dollar is steady today. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, ended 0.6% higher on Tuesday.

Both EUR/USD and GBP/USD reversed their advancing yesterday. Pound is higher against the dollar currently while euro is down. USD/JPY revered its sliding while AUD/USD reversed its advancing on Tuesday with the yen higher against the Greenback currently and Australian dollar lower still.

Futures on three main US stock indexes are mixed currently with the yield on benchmark 10-year US notes down at 4.52%. Stock indexes ended higher again on Tuesday on bargain hunting with the three main benchmarks recording daily gains in the range from 0.3% to 2.03% led by technology shares as buyers emerged following the tech selloff the previous session. Federal Reserve is expected to stand pat today. Meta Platforms, Microsoft and Tesla will report quarterly results today.

European stock indexes are mixed currently after closing mixed on Tuesday with the real-estate sector and utilities leading gains. Asian indexes futures are mostly higher today with Japan’s Nikkei leading gains as technology stocks rebounded following selloff yesterday prompted by success of low-cost Chinese AI model.

Brent is edging higher currently. Prices reversed their sliding yesterday while White House said president Trump still plans to issue 25% tariffs on Canada and Mexico on Saturday while weighing fresh tariffs on China. The US oil benchmark West Texas Intermediate (WTI) rose 0.82% and is higher currently. Brent added 0.53% to $77.49 a barrel on Tuesday.