Charts For a Winter Afternoon – Fed Hikes 25, Signals 3 Hikes In 2017
The Fed hiked 25 basis points today, as most everyone expected.
They also made some hawkish noises for next year, which had the dollar soaring, and the metals and stocks slumping.
Gold is now at the full retracement if this cup and handle formation is valid. More like a ladle with a pretty long handle. lol.
Let’s see where this all goes.
A strong dollar is the last thing the real economy wants, and what one might wish to see if they were Donald Trump, looking to stimulate the economy by dampening imports.
Have a pleasant evening.