In the comments following yesterday’s Federal Reserve meeting, chair Jerome Powell restated their intention to remain patient with interest rate policy in the months ahead. While that stance was expected, one result was the U.S. dollar weakening against other currencies following the announcement, with the DXY index falling to the low 95 level. A weaker U.S. dollar could prove to provide support to multinational companies, some of which have cited a stronger U.S. dollar placing pressure on earnings in recent quarterly reports. Bond yields decreased and equities rose in yesterday’s trading following the announcement. This morning, equity futures are mixed heading into the market open.
This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice and does not take into account all the circumstances of each investor. Forward‐looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.