{"id":128371,"date":"2018-06-13T06:14:14","date_gmt":"2018-06-13T10:14:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128371"},"modified":"2018-06-13T06:14:14","modified_gmt":"2018-06-13T10:14:14","slug":"fed-to-hike-rates-25-basis-points","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/fed-to-hike-rates-25-basis-points\/","title":{"rendered":"Fed to hike rates 25 basis points"},"content":{"rendered":"
June 13, 2018<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

\n
\n

Consumer discretionary lead SP 500 advance<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>advance continued Tuesday with consumer discretionary in the lead. The\u00a0S&P 500\u00a0<\/em>ended 0.2% higher at 2786.85.\u00a0Dow Jones\u00a0<\/em>industrial average however slipped less than 0.1% to 25320.73. The\u00a0Nasdaq\u00a0<\/a>composite index climbed 0.6% to 7703.79. The dollar strengthening accelerated: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, rose 0.2% to 93.80 and is up currently. Stock index futures point to mixed openings today.<\/p>\n

\n
\n

With a rate hike widely expected investors are waiting to see if any changes are made to the dot plot, the policy makers projections for interest rates. Consumer price data showed inflation rose to 2.8% in May from 2.5% in April, in line with expectations. With expectations building that the US economic growth accelerates to above average 4%-4.5% and inflation data confirming economy is strong, there is a chance more policy makers may see the need for four rate hikes this year instead of three as indicated previously. The interest rate decision is due at 20:00 CET today, and at 20:30 CET starts Fed chair Powell\u2019s press conference.<\/p>\n

\"ND100\"<\/p>\n<\/div>\n<\/div>\n

 <\/p>\n

\n
\n

DAX little changed while major European indices fall<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>pulled back Tuesday while Italian and Spanish stocks advanced. The\u00a0euro\u00a0<\/em>joined\u00a0British Pound\u2019s<\/em>slide against the dollar and both currencies are receding currently. The Stoxx Europe 600 slipped 0.1%. The German\u00a0DAX 30<\/a>lost less than 1 point to 12842.30. France\u2019s\u00a0CAC 40<\/em>\u00a0fell 0.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>lost 0.4% to 7703.81. Indices opened mixed today.<\/p>\n

\n
\n

Markets got little support from weak economic data: German economic sentiment in June dropped to the lowest level since September 2012, according to the German ZEW think tank. Weekly earnings excluding bonuses rose 2.8% in the three months to April in UK when a 2.9% rise was expected.<\/p>\n

\n
\n

Asian indices retreat head of Fed decision<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly lower today despite a joint statement by President Trump and Kim promising in to work toward the \u201cdenuclearization\u201d of the Korean Peninsula.\u00a0Nikkei\u00a0<\/em>gained 0.4% to 22966.38 as the yen slide against the dollar persisted. Chinese stocks are falling: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 1% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 1.1% lower. Australia\u2019s All Ordinaries Index is down 0.5% with Australian dollar edging lower against the greenback.<\/p>\n

\n
\n

Brent\u00a0<\/a>down<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are extending losses today as supply is seen rising both in US and OPEC. The American Petroleum Institute reported late Tuesday that US crude inventories rose by 830,000 barrels to 433.7 millin. Prices ended lower yesterday: August Brent fell 0.8% to $75.88 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n<\/div>\n<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Consumer discretionary lead SP 500 advance US stock market\u00a0advance continued Tuesday with consumer discretionary in the lead. The\u00a0S&P 500\u00a0ended 0.2% higher at 2786.85.\u00a0Dow Jones\u00a0industrial average however slipped less than 0.1% to 25320.73. The\u00a0Nasdaq\u00a0composite index climbed 0.6% to 7703.79. The dollar strengthening accelerated: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-128371","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=128371"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128371\/revisions"}],"predecessor-version":[{"id":128373,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128371\/revisions\/128373"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=128371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=128371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=128371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}