A super hawkish FED would hike the rates by 50 bps not 25.
Fed's stance on rate hike was the same with the consensus. Which is why market didn't support the USD. It was already priced in.
What made dollar weak though is the same old narrative from Powell that blames the supply chain distruptions for high inflation. He basically said that inflation will come down on it's own, which was a no no for the markets.
Don't believe that? Check the price action before and after the Press Conference. EURUSD went up during the press conference.
The narrative that is used during the press conferences are as important as the monetary policy report. If a trader doesn't know that, he is either not experienced enough or just straight dumb.
Those consensus numbers and narrative comparisons are given to you for a reason.
Fed's stance on rate hike was the same with the consensus. Which is why market didn't support the USD. It was already priced in.
What made dollar weak though is the same old narrative from Powell that blames the supply chain distruptions for high inflation. He basically said that inflation will come down on it's own, which was a no no for the markets.
Don't believe that? Check the price action before and after the Press Conference. EURUSD went up during the press conference.
The narrative that is used during the press conferences are as important as the monetary policy report. If a trader doesn't know that, he is either not experienced enough or just straight dumb.
Those consensus numbers and narrative comparisons are given to you for a reason.
Wolves hunt, dogs bark.