Following the FOMC meeting, US indexes maintained an optimistic tone and climbed.
The Dow Jones Industrial Average increased by 104 points, while the Nasdaq rose by 1.42 percent.
The dollar’s demand has dwindled, but it remains the most powerful currency.
On Wednesday, Wall Street managed to post gains, with the FOMC Meeting Minutes issued in the American afternoon providing some help. According to the memo, Fed policymakers believe the criteria of “substantial further progress” required to change monetary policy has yet to be satisfied. Several FOMC members stated that they expect the pace of asset purchases to slow down and that criteria would be met sooner than expected.
The paper didn’t offer any new insights into the timing of tapering, but it did suggest that some policymakers saw the economic outlook as more uncertain after the recent data, which was a significant majority of participants’ assessment.
The Dow Jones Industrial Average rose 104 points to 34,681, while the S&P 500 index rose 0.40 percent to 4,361. The Nasdaq Composite ended the day with a slight 1.42 percent gain, closing at 14,665.
The DJIA recovered half of its losses on Tuesday, but is still down for the week. On the daily chart, the index remains positive, although more increases are unlikely in the near future. The index is developing below a flat 20 SMA while remaining above the longer ones, which remain directionless, according to the 4-hour chart. The Momentum indicator has moved into positive territory, although it is still stuck in negative territory./n
