Market Volatility Ahead of Fed Interest Rate Cut

Mr. ‍Charanwet Saksri, Investment Advisory Director at⁤ Classic Ausiris Futures ⁤Company Limited, notes that the buying ⁣and selling of SET50 Index⁣ Futures has ⁣been⁣ quite ‍volatile. The index initially‌ rose but has since retreated, likely due ⁤to selling pressure to ​reduce risk ahead ⁤of the Federal Reserve (Fed) meeting.

The market is ⁢eagerly ⁤awaiting the Fed meeting, where interest rates ‍are expected‌ to be cut. However, the extent of the cut is uncertain,‌ with possibilities ranging from 0.25% to 0.50%. The market is giving more weight to a 0.50% cut, but⁢ the outcome is still unclear.

If the Fed cuts interest‍ rates‍ by ‌0.50%, the ‍market may not react significantly, as this is within‍ the expected range. However, if ⁣the cut is only 0.25%, it could lead to a decline in the index. The resistance levels are​ at 910-915 ‌points, while the support levels are at⁣ 885-890 points.

The gold price is currently moving within a range, ⁣awaiting the outcome ​of the Fed meeting. The ‍market ⁣had previously expected a 0.50% interest rate cut, which would have weakened the ‌US dollar ⁢and boosted the gold price. However, ⁤recent US economic numbers‌ have not shown significant signs of slowing down, which has not provided additional ​support for the gold price.

The ⁢SET50 closed at 904.90 points, up 1.60‌ points, ⁣or -0.18%. The‍ total⁢ market outstanding was 605,942, with 3,358,974 total ‌futures. The equity ​index was 236,340, with 545,102 SET50 Index.

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By Jirayut ⁣Chansongsakul/Saowalak Phon