A split Bank of England (BoE) decision to keep Interest Rates unchanged and another fall in oil prices were the two big events over the past 24 hours. In terms of market moves, equities were slightly lower (S&P500 – 0.2%), the US dollar was stronger (+0.6%) while Bond Yields were mostly higher across the board. The US dollar (DXY) rose 0.6% and is up 1.0% since the FOMC meeting on Wednesday. US Treasury yields also rose with 10-years up 3.8 bps to 2.16%, and 2- year yields up 2.0 bps to 1.35%. Despite the US dollar reaction to the FOMC statement, the market still prices just under a 50% chance of another rate hike by December and less than 1½ hikes are priced in through to the end of next year – this despite the Fed dot points pointing to four more rate hikes by the end of 2018. It is likely the market will require a pickup in inflation and wages growth to validate the Fed’s rate track.

To mark my 1350th issue of Tradernoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on bryan@tradernoble.com for details.

For anyone following my Platinum Service it made 75 points yesterday and is now ahead by 513 points for June having made 1071 points in May, 1376 in April, 1335 in March, 1481 in February and 1734 in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1750 points.

 The two currencies most resilient to US dollar strength in yesterday’s trading session were the Pound (+0.1%) and the Aussie (-0.1%). Down the bottom of the leader board were the Kiwi (-0.7%) and the Yen (-1.2%) while the Euro (-0.6%) reflected broad US dollar strength.

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