Introduction:

Amidst anticipation surrounding the U.S. Federal Reserve’s decisions, Asian stock markets are facing pressure, with varying performances across the region. In contrast, European shares are on the rise, while U.S. markets exhibit caution as traders seek safety ahead of the pivotal Fed decision.

Market In Focus for today – FTSE 100

European stocks increased before the Fed; the UK’s FTSE 100 outperforms.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

• MA 5: 7681.75 | Positive Crossover | Bullish
• MA 20: 7631.19 | Positive Crossover | Bullish
• MA 50: 7552.00 | Positive Crossover | Bullish

Simple:

• MA 5: 7671.78 | positive Crossover | Bullish
• MA 20: 7629.88| Positive Crossover | Bullish
• MA 50: 7527.09 | Positive Crossover | Bullish

RSI (Relative Strength Index): 68.82 | Buy Zone | Positive

Stochastic Oscillator: 19.38 | Sell Zone | Neutral

Resistance And Support Levels: 

• R1: 7732.1 | R2: 7878.7.
• S1: 7593.1 | S2: 7449.1

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy: 7767.5 | Take Profit: 7878.7 | Stop Loss: 7691.7.

Elsewhere in the Indices Market

Asian stock under pressure with US Fed in focus.

The Shanghai composite is down at 0.52%. Overall, the Singapore MSCI up 0.17% to 284.68. Over in Hong Kong, the Hang Seng Index is down by 0.62% to 17,885.60. In Japan, the Nikkei 225 was down 0.66% to 33,023.78, while the Topix index was down 1.00% to 2,406.00. South Korea’s Kospi up 0.02% to 2,559.74. Australia S&P/ASX 200 is down 0.46% to, 7,163.30.

European shares rise ahead of Fed decision.

The DAX futures contract in Germany traded 0.65% higher, CAC 40 futures in France up 0.37% to 7,308.99 and the UK 100 futures contract in the U.K. up 0.71% to 7,714.39.

U.S. markets end lower as traders seek safety ahead of the Fed decision.

Wall Street lost ground on Tuesday as the U.S. Federal Reserve met for its highly anticipated two-day monetary policy meeting, with risk-off sentiment playing a role.

Indexes up: Dow 0.31%, S&P 500- 0.22%, Nasdaq up 0.23%.

Corporate News:

Apple Inc (AAPL) is up 0.62% at 179.07, Netflix Inc (NFLX) is up 0.46% at 396.20, and NVIDIA Corp (NVDA) is down 1.01% at 435.20. JPMorgan Chase & Co (JPM) down 0.13% at 148.93, Walt Disney Co (DIS) down 3.62% at 81.94.

Key Economic Events & Data Release Today:

(CNY) PBoC Loan Prime Rate Actual 3.45%, Forecast 3.45%, Previous 3.45% at 06:45.

(GBP) CPI (YoY) (Aug) Actual 6.7%, Forecast 7.0%, Previous 6.8% at 11:30.

(USD) Fed Interest Rate Decision Forecast 5.50%, Previous 5.50% at 23:30.

(USD) FOMC Economic Projections at 23:30.

(USD) FOMC Statement at 23:30

(USD) Crude Oil Inventories Forecast –2.200M, Previous 3.954M at 20:00.