As the clock ticks down to the Federal Reserve’s much-anticipated decision, global markets find themselves in a bit of a pickle. With the recent surge in U.S. retail sales doing a number on rate cut expectations, traders are feeling the pressure. On top of that, China’s jaw-dropping capital outflows set a record, injecting a fresh wave of uncertainty. And to top it all off, speculation about a potential rate hike from the Bank of Japan is adding to the currency conundrum. Are we in for a wild ride? Stick around to see how major assets maneuvered through these choppy waters in the latest trading sessions! LEARN MOREGlobal markets turned cautious before the Fed’s decision as strong U.S. retail sales cooled rate cut hopes, while China’s record capital outflows and BOJ hike speculation dominated currency price action on Tuesday.
Read on to see the exactly how the major assets traded in the last trading sessions!
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Markets played it safe ahead of Wednesday’s big Fed decision, with the Dow notching its ninth straight loss – the longest losing streak since 1978. Stronger-than-expected U.S. retail sales data put a dent in hopes for 2025 rate cuts, pushing Treasury yields and the dollar higher while weighing on riskier assets.