Tomorrow is the big day and a long-term trend in the US Dollar remains in focus as stocks grasp on to supports ahead of another expected hike.
Failure to defend the monthly range may push the price of oil towards the January low ($74.27) as it appears to be tracking the negative slope in the 50-Day SMA ($91.27).
It was a messy rate decision but the net response after the close of the presser is very clear.
The Fed raised its benchmark rate by three-quarters of a percentage point to 3.00-3.25%, delivering the third straight 75 basis-point hike in an effort to curb strong inflationary pressures.
S&P 500 price action remains relatively muted as traders await the next move from the FOMC.
The Euro is equal to 1 US Dollar as markets strap in for an abundance of central bank action this week with the Fed being the headline act. Will a Fed hike sink EUR/USD?
The indexes eked out gains as the market mood soured. Will the FOMC provide a timely boost for equities?
EUR/USD is back firmly below parity as Russian President Vladimir Putin appears to dampen any chance of peace in Ukraine
The US dollar grabbed a strong safety bid as Europe opened today after Russian President Vladimir Putin escalated action in Ukraine.
President Putin has issued warnings to the West while announcing the deployment of additional troops to Ukraine, resulting in investors fleeing for safety.
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