As expected, the FRS Open Market Committee decided at the end of its two-day meeting on Wednesday to keep the key interest rate target at its current record low of 0-0.25%. Mr Powell said the rate hike was not expected until the US economy overcame the current crisis.
In response to Powell’s statements, the dollar continued to depreciate.
“Powell’s remarks suggest that the FRS will be ready to support growth by taking further action if necessary, and this is an encouragement to stock market bulls,” said Ken Berman, a Gorilla Trades strategist.
The Dow Jones Industrial Average rose 0.6% to 26,539.57 points on Wednesday, the Standard & Poor’s 500 rose 1.2% to 3,258.44 points, and the Nasdaq Composite rose 1.4% to 10,542.94 points.
The London Stock Exchange index FTSE 100 remained almost unchanged on Wednesday and at the end of the trading session was 6131.46 points, the Frankfurt stock exchange index DAX 30 decreased by 0.1% to 12 822.26 points, while the Paris stock exchange index CAC 40 increased by 0.6% to 4958 , 74 points.
In the e-commerce of the New York Stock Exchange, the price of WTI crude oil rose by 0.6% on Wednesday to USD 41.46 per barrel. The price of Brent crude rose 1.2% to $ 43.75 a barrel on the London Stock Exchange.
The euro rose from 1.1716 to 1.1794 dollars per euro, the British pound rose from 1.2932 to 1.2993 pounds against the US dollar and the US dollar fell from 105.09 against the Japanese yen. to 104.39 yen per dollar. The euro depreciated against the pound sterling from 91.79 to 90.76 pence per euro.
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