The Fed has raised rates to 3.75\u20134.00%. \ud83c\udfe6 It\u2019s the first hike in more than three years, it was unanimous, and the dot plot points to one more hike this\u00a0year.<\/p>\n
The obvious trade was \u201chawkish Fed, so sell risk and gold\u201d. \ud83e\ude99 The market did something else. US stocks rallied the next day, with the Nasdaq 100 up 1.7% and the S&P 500 up 1.1%. Gold slipped after the decision and now trades around $4,350, still below the $4,400 resistance. The first reaction was noise, and the real message came later.<\/strong>\u00a0\ud83d\udd04<\/p>\n Here is what is driving the market now: The takeaway<\/strong> \ud83d\udca1 Wait for the second move, not the first. \ud83c\udfaf Trade with NordFX \ud83d\udc49 https:\/\/my.nordfx.com\/en\/registration?utm_source=social&utm_medium=post&utm_campaign=nordfx<\/a><\/p>\n NordFX: The First Move After a Central Bank Is Often the Easiest One to Misread \ud83e\udded<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":" The Fed has raised rates to 3.75\u20134.00%. \ud83c\udfe6 It\u2019s the first hike in more than three years, it was unanimous, and the dot plot points to one more hike this\u00a0year. The obvious trade was \u201chawkish Fed, so sell risk and gold\u201d. \ud83e\ude99 The market did something else. US stocks rallied the next day, with the […]<\/p>\n","protected":false},"author":0,"featured_media":232945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-232944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/232944"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=232944"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/232944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/232945"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=232944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=232944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=232944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\ud83d\udcc8 The 2-year Treasury yield is at 4.74%, a cycle high, and the 10-year is near 5%.
\ud83d\udee2\ufe0f Brent is around $102 after four straight sessions of losses. It is still high enough to keep inflation worries alive, and core inflation is above 3%.
\ud83d\udcb5 The Dollar Index sits near 100 and USD\/JPY is around 157. \ud83d\udcb4
\ud83c\udf0d Houthi attacks on Saudi Arabia and strikes between Ukraine and Russia keep geopolitical risk high.
\ud83e\udd1d The Trump\u2013Xi summit on September 24 is the next big test. Preparatory trade talks have started, and many traders are waiting on the sidelines. \u23f3<\/p>\n
\u2705 The first reaction shows the surprise. The second move shows the direction.
\u2705 Yields, oil and geopolitics often decide what happens after a rate decision.
\u2705 Before big political events, waiting is also a position.<\/p>\n