Wall Street

Oil Drops On Demand Outlook, Gold Shines

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OANDA – Happy Fed/ECB Day, Traders breathe a sigh of relief, Oil drops on demand outlook, Gold shines, Bitcoin in trouble Risky assets got their groove back after the Fed restored confidence that they are serious about fighting inflation but that a steady stream of supersized hikes would be unlikely. Wall Street made this an easy policy decision for the Fed as the two-year Treasury yield surged from 2.83% to over 3.40% since Friday’s inflation report. The Fed raised its benchmark rate by 75 basis points, the largest increase since 1994, and signaled more hikes are coming, but that trend won’t …

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