Marketwatch North America

Daily Insights
July 27, 2023

U.S. Treasury yields are lower in most tenors in a shift to ‘risk-off’ sentiment. Global equities are also lower as traders pare positions ahead of today’s FOMC rate announcement. The Fed is widely expected to raise its policy rate by 25 basis-points, but there is uncertainty about the tone of the policy statement and whether recent inflation data has improved enough to shift the Fed to a more neutral rate stance.

While core year-over-year CPI at 4.8% is an improvement over the prior reading of 5.3%, it is still well above the FOMC’s sustained 2% target so it’s hard to imagine Fed Chairman Powell changing course now.

The USD is evenly mixed against the G10 pairs and slightly lower against the full list of major currencies. The U.S. Dollar Index is -0.13%, in a narrow holding pattern prior to the Fed announcement.

Oil prices are lower by 1.18%, the first decline following 4 consecutive daily gains totaling 5.68%.

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Economic Calendar

USD - Federal Funds Rate
USD - FOMC Statement
USD - FOMC Press Conference
AUD - CPI q/q
AUD - Trimmed Mean CPI q/q
AUD - CPI y/y
USD - New Home Sales

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 141.182 140.17
eur/usd 1.1086 1.10377
gbp/usd 1.29244 1.28754
aud/usd 0.6791 0.67283
usd/cad 1.32216 1.31717
Equities and Commodities
SP500 4,567.4600
NASDAQ 14,084.6600
DOW 35409.4
GOLD 1972.12
SILVER 24.63
S&P 500

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.

About Mark Allen


Mark Allen, a Senior Trader at the GPS Capital Markets Salt Lake City office, boasts nearly 30 years’ market trading experience, with a focus on foreign exchange. Having worked with GPS for the last decade, he adeptly manages market risk during New York trading hours. Prior to joining GPS, Mark co-managed a London hedge fund from San Diego and traded for a multinational bank in San Francisco.