Review of US Fed Interest Rate Decision and Market Impact

0 6
If Wednesday’s news on US interest rate levels hadn’t been preceded by a 5% reduction in share price values, then it could well have sparked its own sell-off. As it was, the announcement by Jerome Powell that rates would be held and the extensive liquidity program would be scaled back “soon” was followed by an uptick in prices. The guidance given by the US Federal Reserve Chair wasn’t necessarily good news for the markets. But after a two-week battering, stoic bulls came back into the market late Wednesday and by Thursday morning were showing an appetite for holding their nerve. Nasdaq 100 index – 1Hr price chart with bounce and 61.8 % Fib as broken resistance level Source: IG Those with long positions in tech stocks will note that Thursday’s show of strength took price through the 61.8% Fib resistance line, which had been holding up progress until then. Nasdaq 100 index – 1Hr price chart with bounce downward price channel Source: IG Nasdaq 100 in
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade
$59.95/month