Global Shares Mixed, Gold Jumps After Fed Keeps Rates Unchanged

Investors take a wait-and-see approach following the Federal Reserve's decision to hold interest rates steady.

Jan. 29, 2026 at 9:39am

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Global shares traded mixed on Thursday as investors reacted to the Federal Reserve's decision to keep its key interest rate unchanged. The move was widely expected, with Fed Chair Jerome Powell stating that interest rates appear to be "in a good place" for now. Gold prices jumped 2%, trading at $5,543 per ounce, while the U.S. dollar weakened against the Japanese yen. Oil prices also rose. Major stock indexes in Europe and Asia saw a mix of gains and losses, with some technology companies reporting strong earnings.

Why it matters

The Federal Reserve's decision to hold interest rates steady is a significant development, as it signals the central bank's view that the current monetary policy is appropriate for the current economic conditions. This decision will impact various financial markets, including stocks, bonds, and currencies, as investors adjust their expectations and strategies accordingly.

The details

Global shares were mixed on Thursday as investors digested the Federal Reserve's decision to keep its key interest rate unchanged. The move was widely anticipated, with Fed Chair Jerome Powell stating that interest rates appear to be "in a good place" for now. Gold prices jumped 2%, trading at $5,543 per ounce, while the U.S. dollar weakened against the Japanese yen. Oil prices also rose. In Europe, France's CAC 40 rose nearly 1%, while Germany's DAX shed 0.3% and Britain's FTSE 100 added 0.6%. U.S. shares were set to drift higher, with Dow futures up nearly 0.1% and S&P 500 futures edging up 0.3%. In Asia, the Nikkei 225 in Tokyo rose less than 0.1%, while South Korea's Kospi surged 1% to a fresh record. Hong Kong's Hang Seng added 0.5%, and the Shanghai Composite index gained 0.2%. Australia's S&P/ASX 200 shed nearly 0.1%, and Indonesia's JSX sank 1.9%.

  • The Federal Reserve's decision to keep interest rates unchanged was announced on January 29, 2026.

The players

Jerome Powell

The Chair of the Federal Reserve, who stated that interest rates appear to be "in a good place" for now.

Scott Bessent

The U.S. Treasury Secretary, who said in an interview on CNBC that the U.S. government is not intervening in the currency market and continues to want a "strong dollar".

Stephen Innes

The managing partner at SPI Asset Management, who provided commentary on the implications of the Fed's decision and the currency market.

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What they’re saying

“From Washington's side, a slightly firmer yen is convenient for domestic manufacturing concerns. From Tokyo's side, even symbolic Fed acknowledgement buys time and credibility.”

— Stephen Innes, Managing Partner (SPI Asset Management)

The takeaway

The Federal Reserve's decision to hold interest rates steady reflects its view that the current monetary policy is appropriate for the current economic conditions. This decision will have far-reaching implications for various financial markets, as investors adjust their expectations and strategies accordingly.