Euro inches up before economic data
Euro rose against a host of currencies on Thursday as investors digest the Federal Reserve's policy meeting yesterday and ahead of economic data.
The Federal Reserve voted to maintain rates at between zero and 0.25% unchanged while expecting to raise rates three times in 2023 and three more times in 2024 to 1.8%.
The Federal Reserve expects the US GDP to grow by 3.8% in 2022, and by another 2.5% in 2023, and by 2% in 2024.
Later today, data on German and overall European manufacturing and services data will be released.
EUR/USD rose 0.2% as of 5:08 GMT to 1.171, with an intraday high at 1.1712, and a low at 1.1684.
Silver rises, shrugs off Fed statement
Silver prices rose on Wednesday, as the US dollar held against most of its peers, after the Federal Reserve's statement.
The US Federal Reserve has kept the interest rate between zero and 0.25% unchanged, but projected to raise it 3 times in 2023 and 3 more times in 2024, to reach 1.8% by the end of 2024.
The Fed stated that depending on the continuous rise in inflation and improved labor market conditions, the FOMC sees that it would be appropriate to start reducing asset purchases.
The Fed also estimated the US GDP to grow by 3.8% in 2022, 2.5% in 2023, and 2% in 2024.
The dollar index held against a basket of currencies at 93.2 points as of 19:42 GMT, after it hit a high of 93.2 points and a low of 93.1 points.
Silver spot prices rose 0.4% to $22.7 an ounce as of 19:42 GMT.
Silver rises, shrugs off Fed statement
Silver prices rose on Wednesday, as the US dollar held against most of its peers, after the Federal Reserve's statement.
The US Federal Reserve has kept the interest rate between zero and 0.25% unchanged, but projected to raise it 3 times in 2023 and 3 more times in 2024, to reach 1.8% by the end of 2024.
The Fed stated that depending on the continuous rise in inflation and improved labor market conditions, the FOMC sees that it would be appropriate to start reducing asset purchases.
The Fed also estimated the US GDP to grow by 3.8% in 2022, 2.5% in 2023, and 2% in 2024.
The dollar index held against a basket of currencies at 93.2 points as of 19:42 GMT, after it hit a high of 93.2 points and a low of 93.1 points.
Silver spot prices rose 0.4% to $22.7 an ounce as of 19:42 GMT.
US stocks keep gains after Fed statement
US stock indices rose on Wednesday, and kept gains following the Federal Reserve's statement.
The US Federal Reserve has kept the interest rate between zero and 0.25% unchanged, but projected to raise it 3 times in 2023 and 3 more times in 2024, to reach 1.8% by the end of 2024.
The Fed stated that depending on the continuous rise in inflation and improved labor market conditions, the FOMC sees that it would be appropriate to start reducing asset purchases.
The Fed also estimated the US GDP to grow by 3.8% in 2022, 2.5% in 2023, and 2% in 2024.
To the oil market, WTI crude October futures rose 2.5% or $1.74, and closed at $72.23 a barrel.
Brent November futures rose 2.5% or $1.83, and closed at $76.19 a barrel.
As for stocks, Dow Jones rose 1% or 338 points, and closed at 34,258, and hit a day high of 34,440, and a low of 34,006.
S&P 500 rose 0.9% or 41 points to 4,395, after hitting a high of 4,416 and a low of 4,367 points.
Nasdaq rose 1% or 150 points to 14,896 points, with a high of 14,950 and a low of 14,767.