🏦 The Fed hiked rates 25bp to 3.75%–4.00% Wednesday – the first hike in three years – as inflation stays elevated and the Iran conflict keeps energy costs in play. The dot plot leaves the door open for one more hike this year.
Wall Street sold off on the news: the Dow shed roughly 600 points and the S&P 500 slid too, as the dollar firmed on higher short-term yields.
🌏 Asia Today
Asian markets traded mixed in the hike's aftermath: Nikkei 225 +0.2% to 64,067.53, Kospi +0.9% to 6,778.49, ASX 200 +0.3% to 8,718.20 – while Hang Seng -0.7% to 24,533.46 and Shanghai Composite -0.3% to 3,880 lagged, with Chinese markets also cautious ahead of high-level US-China talks this weekend.
New Zealand's Q2 GDP beat forecasts (+0.2% q/q, +2.6% y/y), but NZD barely budged – broad USD strength from the Fed hike offset the local surprise.
💱 FX & Commodities
EUR/USD 1.1463 (-0.02%) – steady near flat
🥇 Gold $4,318.26 (-1.58%) – pulling back as the stronger dollar and hawkish Fed weigh
🛢️ Brent $105.53 (-2.96%) – sharp drop as Saudi's drone-damaged pipeline nears repair and US crude stockpiles surprise higher
₿ Bitcoin $75,574 (-1.23%) – tracking the broader risk-off mood
⚠️ Watch today: Iran conflict headlines remain the wildcard for oil and safe-haven flows; weekend US-China talks in focus for Chinese equities.
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