Markets posting gains after FOMC

FXStreet (Edinburgh) - US shares are posting modest gains on Wednesday following the $10 billion QE taper from the FOMC and shrugging off poor US GDP data.

As of writing DowJones is up 0.19% followed by the S&P500, 0.16 and the Nasdaq, just gaining 0.01%. The greenback is looking to stabilize in the lower end of the range, coming down to the mid-79.00s.

The main bourses in the Old Continent closed with a mixed tone amidst downbeat corporate reports. The CAC40 was the worst performer, down 0.88% and followed by the IBEX35, retreating 0.02%. On the other hand, the DAX gained 0.20% and the FTSE100, 0.15%. The EUR bullish momentum remains intact, with the EUR/USD trading just below 1.3880.

In the commodities’ universe, the barrel of WTI breached the psychological $100.00 mark, hovering over $99.70 or losing 1.5%. The ounce troy of gold is following suit, down 0.3% around $1,290.

Fed cuts another $10 Bn in QE; rates to remain beyond QE

The Federal Reserve decided to leave its interest rate unchanged at 0.25% and affirmed they will maintain rates unchanged for a 'considerable time' after the QE ends.
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USD/CHF steady around 0.8800 after FED

The USD/CHF is hovering around 0.8800, down 0.35% for the day, unaffected by the FOMC decision; it continues to trade in a range with support at 0.8795 and resistance below 0.8810.
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