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FOMC delivered a 75 bp rate hike, in-line with market expectations
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New FOMC projections showed downward revisions to GDP growth forecast and upward revisions to inflation and unemployment forecasts
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New FOMC dot-plot showed rates at 4.4% at the end of 2022, compared to 3.4% in June forecast. Terminal rate still seen in 2023 but at 4.6%
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Indices dipped and USD gained following decision but those moves were reversed during Powell's press conference amid lack of further hawkish comments
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Gold and silver jumped during Powell's press conference as the market took it as dovish. Silver gains 3% while gold trades over 1% higher
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US indices trade higher with Nasdaq leading the gains (+1.2%). Dow Jones is top laggard but still gains around 0.5% at press time
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Russian President Vladimir Putin announced a partial mobilization. It will cover reservists and former soldiers. Russia plans to mobilize around 300 thousand additional troops
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European stock market indices finished today's trading higher. German DAX, UK FTSE 100 and French CAC40 gained 0.6-0.8%. Main Russian indices slumped around 4%
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China has put Tangshan city, an important steel-making hub, under lockdown
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DOE report confirmed a smaller-than-expected build in US oil inventories signaled by API report yesterday (+1.14 mb vs +2.3 mb expected)
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US existing home sales dropped from 4.82 million to 4.80 million in August (exp. 4.71 million)
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Oil had a volatile session today, jumping after Putin's address and pulling back later on. Brent currently trades around 0.5% higher
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AUD and NZD are top performing G10 currencies while EUR and GBP lag the most
EURUSD plunged to a fresh 20-year low after Fed decision announcement as US dollar strengthened on hawkish dot-plot. However, the move was reversed during Powell's press conference. Source: xStation5
