Post-FOMC yesterday the market acted violently as an instant risk-off approach was taken when the Fed announced there’s an expectation of two interest rate hikes by 2023, resulting in an immense amount of Dollar strength that came into the market.
US Indices sold off aggressively as the Nasdaq, Dow and S&P lost ground as investors took a risk-off approach with the pricing in of the expected interest rate hikes. Gold and Silver sold off aggressively as the Dollar strengthened as well as the inflation risk being mitigated by the Fed with the planned interest rate hikes.
Keep track of Dollar pairs as a continuation of strength is to be expected, the Swiss National Bank is also due to release its Monetary Policy Assessment this morning that could cause some movement in the Franc. Before the European open there is a lot of GBP and USD strength still in the market as the AUD, JPY and NZD remain neutral with the CHF the weakest of the major currencies.
12:30am - BOC Gov Macklem Speaks (CAD)
12:45am - GBP q/q (NZD)
2:10am - RBA Gov Lowe Speaks (AUD)
3:30am - Employment Change (AUD)
- Unemployment Rate (AUD)
9:30am - SNB Monetary Policy Assessment (CHF)
2:30pm - Philly Fed Manufacturing Index (USD)
- Unemployment Claims (USD)