Markets cautious yet steady ahead of Fed decision: Angel Commodities Broking

Views of Ms. Kaynat Chainwala (Research Analyst- Base Metals, Angel Commodities Broking):

"Overall, price movement in the commodities space today has been restricted within (+/-) 1 percent as investors waited with bated breath the release of FOMC statement wherein the Fed is widely expected to raise its benchmark interest rate for the second time this year. As per CME Fed funds futures, the markets have already assigned a 99.6 percent probability to 25 bps rate hike in today's meeting.

Price momentum in the second half of the day (14th June'17) would likely be dependent on comments coming from Fed Chair Janet Yellen and other FOMC members. Global investors will delve into the fine print of the FOMC statement in order to assess the future US rate hike path since the rate hike has already been discounted."

Source : Equity Bulls

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