The Fed held borrowing costs unchanged at its March meeting and continued to signal that it would implement three rate cuts this year despite upside inflation risks. This dovish outlook boosted gold prices and the Nasdaq 100.
While there were some hawkish elements in the Fed’s guidance, such as the upward revision to the long-run equilibrium rate, traders chose to focus on the near-term future and the fact that the easing cycle is inching closer and looming on the horizon.nothing has really changed for the central bank;Taking into account today’s developments, bond yields will struggle to move much higher in the near term, especially if incoming economic data starts cooperating with policymakers.
Conversely, if sellers stage a comeback and pullback, support looms at $2,195, the swing high from early March. Below this level, attention will turn to $2,150, followed by $2,090. Bulls must vigorously defend this technical floor; failure to do so will expose the 50-day simple moving average at $2,065.If you're looking for an in-depth analysis of U.S. equity indices, our first-quarter stock market trading forecast is packed with great fundamental and technical insights.
On the flip side, if market sentiment shifts back in favor of sellers and prices begin to correct lower, initial support will emerge at 18,150. Below this threshold, the spotlight will be on 17,805, a key level that currently coincides with the 50-day simple moving average.EUR/USD jumped on Wednesday, with bulls seemingly determined to challenge trendline resistance at 1.0950 after the FOMC announcement.
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