Foreign exchange and commodities – The euro gains after the Fed’s decision – Economy

On Wednesday, following the release of the US Federal Reserve’s monetary policy decisions, the euro fully offset earlier losses and appreciated strongly. The common currency rose to $ 1.1846 after dropping to $ 1.1776 previously. Despite the recovery and rising inflation, the Fed is initially maintaining its extremely accommodating monetary policy. He left the key rate at the historically low level of zero to 0.25%. Monetary authorities are also keen to keep their monthly cash injections of $ 120 billion at full strength until significant progress has been made in terms of price stability and unemployment. Meanwhile, prices in the oil market have increased. Market watchers have pointed to declining inventories in the United States and a relatively large depletion of gasoline reserves in the United States. A barrel of North Sea Brent cost $ 74.80, or 0.4% more. The price of the American variety WTI rose 0.6% to $ 72. The night before, we learned that the American Petroleum Institute association had recorded a drop in stocks of 4.7 million barrels last week. The reduction in gasoline inventories was particularly strong, to 6.2 million barrels. In the United States, gas mileage traditionally skyrockets during the holidays. Oil reserves determined by the US Department of Energy have also shown a significant decline.

Investor interest in cryptocurrencies has picked up. Bitcoin, the oldest and largest of the cyber currencies, once again broke the $ 40,000 mark and rose at times 3.7% to reach $ 40,937. At the start of the week, Bitcoin had jumped 17% after speculation Amazon would enter the industry. After Amazon denied the rumors, the cyber currency rate declined slightly.

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