The Federal Reserve remained on hold as expected, U.S. stocks fluctuated little, and gold surged to a new high

U.S. stocks fluctuated little, U.S. Treasury bonds and digital currencies saw slight fluctuations, and the dollar retreated from its daily high after Powell's press conference. Gold continued to rise after the Federal Reserve's statement, with spot gold surging over 3% during the day, reaching a new historical high

On January 28th, local time Wednesday, the Federal Reserve announced its interest rate decision, maintaining its stance as expected. U.S. stocks showed little volatility, U.S. Treasury bonds and cryptocurrencies experienced slight fluctuations, and the dollar retreated from its daily high after Powell's press conference, while gold continued to rise after the Federal Reserve's statement, surging over 3% intraday to reach a new historical high.

Before the Federal Reserve's Decision Announcement

Before the Federal Reserve released its January decision statement, U.S. stocks retreated from earlier highs, U.S. Treasury yields rose during the day, the dollar strengthened, and gold increased:

The S&P 500 index and Dow Jones slightly declined, the Nasdaq 100 index rose by less than 0.4%, the tech giants index rose by 0.1%, the semiconductor index rose by 2.2%, and the bank index fell by 1%.
The yield on the U.S. 10-year Treasury bond rose by 1.4 basis points to 4.2571%; the yield on the 2-year Treasury bond rose by 1.24 basis points, stabilizing around the daily high of 3.5875%.
The dollar index rose by 0.89% to 96.63 points. The dollar rose by 1.12% against the yen, 1.34% against the Swiss franc, while the euro fell by 0.99% against the dollar, the pound fell by 0.55% against the dollar, the Australian dollar fell by 0.36%, the New Zealand dollar fell by 0.38%, and the Canadian dollar fell by 0.14%.
Spot gold rose by 1.80% to $5,274.50, while COMEX gold futures rose by 3.71%. Spot silver fell by 0.65%, while New York silver futures rose by 5.15%. COMEX copper futures rose by 0.96%. WTI crude oil futures rose by 1.17%, and Brent crude rose by 1.01%.

After the Federal Reserve's Decision Announcement

At 3 AM Beijing time, the Federal Reserve's January meeting maintained its stance as expected. The statement was more optimistic about the labor market compared to last month, while also mentioning that inflation remains elevated, suggesting no urgency to act. Federal Reserve Governor Waller supports a further rate cut of 25 basis points. U.S. stocks and Treasury bonds showed little short-term volatility, and the dollar rose slightly:

The declines in the S&P and Dow Jones slightly widened to over 0.1%, with little volatility.
The yield on the U.S. 10-year Treasury bond fluctuated by more than 1 basis point, reaching a daily high above 4.26%, while the yield on the 2-year Treasury bond fluctuated by more than 1.5 basis points, reaching a daily high above 3.59%.
The dollar rose slightly in the short term, with the ICE dollar index quickly refreshing its daily high to 96.787 points after the Federal Reserve's decision statement was released.
Spot gold stabilized around $5,270, with an intraday increase of over 1.7%.
Cryptocurrencies rose slightly in the short term, with overall volatility remaining low.
The MSCI Emerging Markets Currency Index and Stock Index both stabilized.

Powell's Press Conference

During the press conference, Federal Reserve Chairman Powell stated that raising interest rates is not a fundamental assumption for anyone's next actions; inflation risks have somewhat diminished, but inflation remains high; he would not comment on the dollar's performance. During Powell's press conference, U.S. stocks showed relatively little volatility, the dollar retreated from earlier daily highs, and gold prices surged:

The S&P and Dow Jones were roughly flat, while the Nasdaq rose by 0.3%, and the semiconductor index rose by 2.5%.
The yield on the U.S. 10-year Treasury bond briefly turned negative, approaching 4.24%, moving away from the daily high of 4.2691% reached one minute before the start of Powell's press conference. The yield on the 2-year Treasury bond rose by 1.24 basis points to 3.5854%; The 30-year U.S. Treasury yield fell slightly by 0.1 basis points.
The ICE U.S. Dollar Index maintained an increase of less than 0.3%, stabilizing above 96.4 points. The euro fell more than 0.8% against the dollar, the British pound fell 0.4% against the dollar, and the dollar rose more than 0.8% against the yen.
Gold prices hit a new historical high above $5,340 after Powell's press conference. Spot gold rose more than 3%, reaching a new historical high of $5,341.85 per ounce at the end of Powell's press conference. Spot silver's gains expanded to over 2.3%.
Digital currencies fluctuated during Powell's press conference, with Bitcoin initially declining, then rising, and falling again after the press conference ended, with overall volatility not being significant.