By Chris Becker
So the Federal Reserve pulls the trigger, raising rates at its December meeting overnight, signalling three more for 2018. The market reacted swiftly, as the rate rise had been cooked in already, the USD selling off against the majors, as Treasury yields fell and stocks faltered slightly. Gold rallied but both WTI and Brent crude prices fell.
Recapping action in Asia yesterday where in mainland China the Shanghai Composite came back slightly after its near 1% drop previously, up 0.7% to be just above 3000 points. There seems to be a shakeout here around the 3000 point level, with the bulls trying once more to breakout after last months correction. I’m watching the previous session lows just below 3300 as the key support level going forward:
