EUR/USD
1.14958
-0.964%
Gold
4259.53
-1.654%
Oil
75.122
-0.902%
USD/JPY
160.706
0.162%
GBP/USD
1.32906
-1.008%
GBP/JPY
213.593
-0.846%
Real-time News
The Dow Jones Industrial Average closed down 506.51 points, or 0.97%, at 51,493.16 on Wednesday, June 17; the S&P 500 closed down 91.22 points, or 1.21%, at 7,420.13; and the Nasdaq Composite closed down 354.69 points, or 1.34%, at 26,021.66 on Wednesday, June 17.June 18th - On Wednesday, following a hawkish Federal Reserve meeting, the three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.97%, the S&P 500 fell 1.2%, and the Nasdaq Composite fell 1.3%. SpaceX (SPCX.O) closed down 5%, Nvidia (NVDA.O) fell 1%, and Western Digital (WDC.O) rose 4%. The Nasdaq China Golden Dragon Index closed down 1.1%, and Li Auto (LI.O) fell 3%.June 18th – Warshs first press conference as Federal Reserve Chairman officially concluded, during which he previewed a series of reforms to be implemented at the Fed. One significant change is the establishment of several special working groups to explore more open data collection methods and study how to improve the Feds existing statistical indicator system. During the press conference, Warsh repeatedly emphasized that he would not provide any forward guidance and avoided all questions regarding the future path of interest rates. Furthermore, he did not submit his personal interest rate forecasts in this dot plot and stated that he would not comment on any price fluctuations that occurred in the market during the press conference. Overall, the core message conveyed by Warshs first press conference was: reduce policy guidance to the market, downplay pre-commitments to the interest rate path, and focus more on reforming the Feds systems, data structures, and communication framework.The market has fully priced in two Fed rate hikes by the end of the first quarter of 2027.June 18th - According to CMEs "FedWatch": The probability of the Federal Reserve maintaining interest rates unchanged by July is 64.0% (91.0% before the decision), the probability of a cumulative 25 basis point rate hike is 35.1% (8.9% before the decision), and the probability of a cumulative 50 basis point rate hike is 1% (0% before the decision). The probability of the Federal Reserve maintaining interest rates unchanged by December is 14.2% (38.2% before the decision), the probability of a cumulative 25 basis point rate hike is 36.4% (43.0% before the decision), the probability of a cumulative 50 basis point rate hike is 33.8% (16.2% before the decision), the probability of a cumulative 75 basis point rate hike is 13.5% (2.4% before the decision), and the probability of a cumulative 100 basis point rate hike is 2.1% (0.1% before the decision).
