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Fed officials project rate hikes for 2023 - Wednesday Review, June 16

Miguel A. Rodriguez
Miguel A. Rodriguez
17 June 2021
Oil continues its upward trend, rising for the fifth day

The US

Wall Street closed lower as the US Federal Reserve officials hinted that the central bank could start raising interest rates in 2023, a year earlier than expected.  USA30 fell 0.77%, and USA500 lost 0.54%. TECH100 dropped 0.24%.

Crude oil rose to $72.15 per barrel, after reaching $72.99 – the highest level since October 2018.

Gold was up 0.29% to $1,861.85 a troy ounce.

The Dollar Index traded 0.02% lower at 90.483.


Asia and Australia

Japan225 was down 0.31% after trade data for May was lower than expected, exports growing 49.6% year-on-year.

HongKong45 edged down 0.16%.

Down under, Australia200  was up 0.24%. The country’s prime minister announced that officials are bolstering legal arguments ahead of potentially taking the wine-tariff dispute with China to the World Trade Organization. 



Markets closed in a mixed manner, as some were cautious ahead of the US Federal Reserve meeting. Others focused on the latest economic metrics. UK100 rose 0.2% even though data showed an unexpected jump in inflation, above the Bank of England’s 2% target in May. Spain35 fell 0.3%, while Germany30 lost 0.12%.

Brent oil gained 0.5%, hitting $74.39 a barrel.

EUR/USD traded at 1.2115 after it lost 0.07%.


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.