Federal Reserve raises rates by 25 bps as expected
EUR/USD 🔼
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
USD/JPY 🔽
XAU 🔼
WTI 🔽
BTC 🔼
ETH 🔼
Earlier today, the Federal Reserve raised the interest rate by 25 basis points to 4.75%, aligning with Mitrade's estimates. The expected slowdown in rate hikes, however, did not spell the end of tightening monetary policies in 2023. Despite acknowledging the disinflation, Fed Chair Jerome Powell said inflation was far from his target of 2%.
Still, the news cheered market sentiment. The Nasdaq 100 soared 261 points to 12,363. The S&P 500 rose 42 points to 4,119. The Dow Jones Industrial Average had minimal gains and closed at 34,092. Meta Platforms (META) reported revenue of $32.17 billion, higher than projections of $31.53 billion. Its stock price continued to rally, currently at $153.12.
Meanwhile, major currencies have rallied against the greenback, with EUR/USD surging over 120 pips to 1.0989. GBP/USD added more than 50 pips to 1.2376, and AUD/USD rose 80 pips to 0.7135. On the other hand, USD/JPY plunged 110 pips to 128.93, and USD/CAD traded lower at 1.3287.
The US just added 4.140 million barrels to its Crude Oil Inventories, which sent WTI oil futures down to $76.80. Spot gold rose over $20 to $1,950.13 an ounce. Bitcoin and Ethereum are currently trading higher at $24,096.0 and $1,685.29 respectively.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
USD/JPY 🔽
XAU 🔼
WTI 🔽
BTC 🔼
ETH 🔼
Earlier today, the Federal Reserve raised the interest rate by 25 basis points to 4.75%, aligning with Mitrade's estimates. The expected slowdown in rate hikes, however, did not spell the end of tightening monetary policies in 2023. Despite acknowledging the disinflation, Fed Chair Jerome Powell said inflation was far from his target of 2%.
Still, the news cheered market sentiment. The Nasdaq 100 soared 261 points to 12,363. The S&P 500 rose 42 points to 4,119. The Dow Jones Industrial Average had minimal gains and closed at 34,092. Meta Platforms (META) reported revenue of $32.17 billion, higher than projections of $31.53 billion. Its stock price continued to rally, currently at $153.12.
Meanwhile, major currencies have rallied against the greenback, with EUR/USD surging over 120 pips to 1.0989. GBP/USD added more than 50 pips to 1.2376, and AUD/USD rose 80 pips to 0.7135. On the other hand, USD/JPY plunged 110 pips to 128.93, and USD/CAD traded lower at 1.3287.
The US just added 4.140 million barrels to its Crude Oil Inventories, which sent WTI oil futures down to $76.80. Spot gold rose over $20 to $1,950.13 an ounce. Bitcoin and Ethereum are currently trading higher at $24,096.0 and $1,685.29 respectively.