The US Fed cut rates but the market reaction is clearly negative – US dollar gains, gold and silver move lower and stocks go down as well as there seems to be growing divergence of view at the FOMC. Dot plot suggests another cut this year and this is dovish but no further cuts in 2020 and the statement does not address present liquidity concerns. Expect many tough questions to Powell who will begin his conference within minutes (7:30pm BST/8:30pm CEST).
Chart of the day 🗽 US100 rebound continues as US earnings season delivers
Wall Street extends gains; US100 rebounds over 1% 📈
Politics batter the UK bond market once more, as Starmer remains under pressure
Market wrap: Novo Nordisk jumps more than 7% 🚀
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