The fed hiked .25 today & the new chair Powell is currently giving his trained lawyer speak (the art of using many words to say very little).
We have seen weakness in equity markets in general lately, & the initial s&p500 reaction to Powell seems to be negative.
Gold having a nice day & reacting favorably to Powell. Usually happens this way on rate hike days
& the dollar selling off today & particularly now. This is most interesting
This is just a snapshot of the market digesting this information. It’s common to see larger than normal swings later in the day after a Fed press conference.
My guess is we finish lower & I think the trend in US equity markets in general has flipped.
What do you think?