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Today's Market Fundamentals
As expected the day was pretty muted ahead of the FOMC, the market later on decided that the Fed was going to be extremely dovish and some even thought that there would be a pause in interest rates – and so throughout the later afternoon we saw some strong dollar selling.
The Fed did raise interest rates, and as we discussed in the week – rightly so. I suppose that the interest rate will not pause until inflation increases back within its expected range of 2%. Hopefully we can move on from this sideshow and perhaps focus on more issue like the US trade war with China.
It seems as though the US Senate has passed a bill to keep the government open on Friday, the bill does not seem to have any stipulation for the border wall – this makes it a bad week for Trump, and I anticipate a barrage of tweets later this afternoon.
Today's Market Trading Levels
- DE30 BUY 10620 – 10580
- UK100 BUY 6650 – 6620
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