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Markets braced for Fed decision

Published Wednesday, September 17th, 2014

A last minute shift in expectations over the outcome of the Federal Reserve policy meeting which will conclude later today bolstered risk appetite and duly sent global equity markets higher. Investors took heart from the latest Chinese stimulus measures introduced following a slew of underwhelming economic data and hoped that the guardians of US monetary policy would strike a similarly dovish tone. Hopes that the Fed would do its best not to rock the boat were reinforced by a newspaper article claiming that it would maintain its guidance on the timing of rising interest rates.

Geopolitical tensions made a hasty although muted return to the overall complex after mortar fire from Gaza into Israel put the current truce, which had ended the recent seven-week period of conflict, at risk. Russia added to the feeling of unease as it asserted its claim to Crimea by threatening to send further troops into the disputed territory after Nato began military exercises in western Ukraine. The prospect of a deteriorating situation in Ukraine will come at the cost of German consumer confidence which slumped to its lowest level in close to two years in September.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.