Dollar and Dow Mark Massive Breaks, But Are There Trends Post-FOMC?
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Dollar, Dow Jones, USDCAD, EURUSD and GBPUSD Talking Points:
• The FOMC announced after their two-day meeting that its members had shifted forward their timeframe for rate hikes but stayed away from a clear taper
• The Dollar enjoyed the biggest response to the top event risk with the biggest single-day rally since May 2020 while the Dow Index notched a bearish channel break
• While there are high profile technical breaks in place, follow through requires a shift in market conditions which may beyond the Fed’s capacity to influence
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