U.S Stock Soar after Fed Raises Rate. Possible Another Dead Cat

Market Updates at a Glance: 17 March 2022 (Thursday)🌎

➤US stocks soared with Dow +1.55%, S&P 500 +2.24% and Nasdaq +3.77%. Fed raised interest rate for the first time since 2018, to 25bps on market expectation, but forecasting more aggressive hike path to contain inflation.

☛On Technical Front:
➤Bellwether S&P 500 futures: Prices break out from the Falling Wedges, is a bullish pattern (checkout my post on 14/3)
➤However, i'm concerned about the possible recession with the Hawkish Fed.

➤The US dollar index fell toward 98.42 with the 10-year treasury yields edged higher to 2.18%.

➤EUR & GBP continued with the rallies, with EURUSD was above 1.10 (+0.75%) and GBPUSD ended above 1.31 (+0.81%).

➤AUDUSD jumped to 0.7292 (+1.36%) amid the risk-on mood.

➤Gold edged higher after the FOMC, slightly above the Fib 38.2% level, $1920.

➤Oil (Brent) continued lower to $98.36 with reports that Russia and Ukraine have signaled progress toward a peace deal.

➤BTC & XRP edged higher, with BTC near $41,000 while XRP above 0.79.

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