I think everyone is expecting a hike, so maybe the rates got ahead of themselves, and the reaction might surprise and see the dollar take a hit. OTOH, rates are down 5 bips or so already, so how much more would they fall? Why is the dollar higher right now? It’s not up much but shouldn’t be up at all with the way the bonds are trading.
These are really tough days to do anything. At least 90% of the time pm’s take a hit. Pretty rare occasion when we see strength after a meeting. We’ve taken a hit after every meeting since March I believe. Maybe we’re due for a decent reaction this time around.
I have a tough time relying on the charts as buy points, the only thing that seems clear to me today is that either the shares are going to rally up to meet the metals like they should be doing now, or the metals are going to take a tumble to meet the shares.
One thing is sure, someone already knows, and it’s not me.