• US futures trading lower in early pregame.
Asian stocks fell the most in nearly a month after the Fed signalled higher for longer.
MSCI APAC Index dropped as much as 1.4%, set for a fourth day of losses, led by HC and tech shares. MSCI China is heading for a 10-month low.
The Fed’s hawkish rhetoric sends DXY Index to March highs and a key resistance level. Asia now in the spotlight of higher cost of commodities in other currencies and renewed pressure on local rates. ..
USD/JPY well above the 148-handle with 150 coming into view.
European stocks firmly in red after last night’s FOMC.
Retail the only sector in green (just marginally). Tech, consumer products, resources and travel -1.0%+.
Luxury goods seeing an average loss around 1.3% this morning.
Sweden’s Riksbank hikes 25bp as expected. SNB keeps rates unchanged but says cannot exclude more hikes in foreseeable future.
BOE set to decide later whether to call a halt to its string of 14 consecutive rate hikes. One more 25-bps hike still priced, but yesterday’s inflation data raised questions over whether the hike will come today.
DXY +11bp. Brent -100bp to ~$92.60. US nat gas +22bp. Bitcoin -61bp while gold -105bp & Silver -150bp.
US futures are lower w/ESZ3 -15.25, HIWZ3 -71.00, and NQZ3 -71.50.