As expected interest rates stayed unchanged. FOMC in the statement see situation on US stock market what let only for gradually hikes. It noticed that economy slowed down in Q4 2015 but labour market is in good condition. FOMC also pointed out that Too strong dollar and cheap oil are threats for inflation. USD reacted with small weakening against EUR and when we look at reaction at American indices it seems like expected statement would be more dovish. Eventually American indices ended session with decreases: S&P500 -1.09%, NASDAQ -2.18%. We should see more reaction today.
My expectations were right, yesterday DAX had flat session with range only of 150 pts. Eventually session ended in the day’s highs area and DAX gained +0.59%. 17 out of 30 companies gained, the most Fresenius Med +4.17%, Deutsche Boerse +3.36%, the biggest losses ThyssenKrupp -2.12%, Siemens -2.35% (in this case remember that this is just a correction after +8.62% increase on Tuesday).
IF YOU ARE INTERESTED IN INVESTING ON INDICES LIKE DAX30, TRY FREE FXGROW ACCOUNT
On DAX futures for a moment resistance at 9,870 pts was broken but after FOMC statement index fell 150 pts. The closest supports: 9,690 pts, 9,590 pts. The closest resistances 9,870 pts, 9,970 pts.