The dollar and overall FX markets did not react much to the FOMC decision to move with another interest rate hike yet lower projection for 2019 to only 2 additional rate hikes. The AUD was the only one percent plus mover, losing ground versus USD and JPY while all other markets traded near the flat line after a pro dollar initial reaction. Global equity markets on the other hand had a more proactive reaction to the news as the NASDAQ took a 3% intraday dive and the NIKKEI lost near 3% overnight. Investors did not like the overall hawkish FED tone and the lack of clearness ahead into 2019. Metals traded lower on the news and Oil reversed yesterday selloff with a near 4% reversal however Oil futures turned lower again overnight on investors fear of a global slowdown, US production oversupply and the selloff in Asian markets.
UK Retail Sales at 9:30 am and the BOE Rate Decision at 1:00 pm are the important news on the agenda Thursday.
Swing trades follow up
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