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26.07.202214:33 Forex Analysis & Reviews: Stock market remains quiet ahead of Fed rate hike

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US stocks and futures were mixed today amid caution in global markets ahead of the Federal Reserve's interest rate hike and as European Union countries reached a political deal to cut gas consumption.

European energy and mining stocks rallied amid supply concerns, while retailers and banks fell on disappointing reports.

Traders brace for a widely anticipated 75 basis point Fed interest rate hike on Wednesday, part of the drive to tackle inflation, as well as corporate reports from Apple Inc. and Alphabet Inc.

Commodity prices rose amid signs of a deficit and natural gas prices in Europe rose to the highest level in more than four months. Oil and copper also jumped. Treasury yields slipped while the dollar indicator surged.

Major investment houses expect the stock market to decline until at least the end of the year.

Key events to watch this week:

Alphabet, Apple, Amazon, Microsoft, Meta earnings due this week
US new home sales, Tuesday
IMF's world economic outlook update, Tuesday
EU energy ministers emergency meeting, Tuesday
Fed policy decision, briefing, Wednesday
Australia CPI, Wednesday
US GDP, Thursday
Euro-area CPI, Friday
PCE price index, US consumer income, University of Michigan consumer sentiment, Friday

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