Fed hikes interest rates to 1.75%

Last night, the FED raised the US interest rates by 25 basis points to 1.75% from 1.50%.

Typically we would see the USD strengthen after such a rate hike.

However, since lifting off from 0% interest rates in the recent couple of years, the USD weakened with each of the rate hikes.

Since the start of 2017, the USDSGD exchange rate has fallen from 1.45 to under 1.31 recently.

This isn’t news though, the rate hikes have been expected for a long time.

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STI

Market still sideways for a while.

Staying light for now and hedged.

STI still sideways

UOB

Since triggering, price has been rather side ways.

Not ideal that price tried to break to new highs but fell back down again.

However, the market is going sideways for now afterall, so we can’t expect smooth trendy movements yet.

UOB uptrend is strong

Wheelock

Still waiting on a valid signal from here.

Looks like there is a lot of room downside for this.

Still waiting for a valid signal

Hi-P

Looks interesting for a long.

Price made a strong move higher, now coming back down to test the consolidation before the move higher.

We can get in here or wait for the next entry signal.

Hi-P looks interesting

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Good trading folks!

The post STI Market Update 22nd March 2018: FED hikes interest rates to 1.75% appeared first on The Systematic Trader | Trading Courses | Collin Seow.