investingLive Americas market news wrap: Fed hikes rates for the first time in three yearsNewsAdam Button16/09/2026 | 19:37 GMT, published 16/09/2026 at 07:37 PMTagsSession wrapWrap North AmericaAdd as a preferredsource on GoogleSummaryThe Fed hikes rates, as expectedFed's Warsh: The economy appears to be strengtheningFed dot plot signals another 2026 rate hike as growth strengthens and inflation remains elevatedThe full statement from the Federal Reserve Board for September 2026FOMC rate decision: Fed hikes for the first time in three yearsBOC summary of deliberations: Governing Council agreed near-term inflation likely to stay elevatedAtlanta Fed GDPNow estimate for Q3 growth jumps to 5.1% from 4.4%US July business inventories +0.
8% vs +0.3% expectedNAHB Housing market index for September 32 vs 34 estimateUS August advance retail sales +1.2% vs +0.
8% expectedCanada Building permits for the month of July -17.3 vs -6.4% estimateMarkets:Gold down $38 to $4254US 10-year yields up 1 bps to 5.
00%US 2-year yields up 6 bps to 4.72%WTI crude oil down $3.29 to $102.
54USD leads, NZD lagsS&P 500 down 1.0%The Fed's credibility remains intact. The nightmare scenario today was a politically-motivated rift at the Fed based on pressure from the White House.
That was laid to rest as the hike as unanimous and in his comments afterwards, Warsh sounded like he was ready to hike again. Naturaly though, he pushed back on the idea of forward guidance. Still, that didn't stop the market bumping the Oct rate hike odds to 58% from 38% before the meeting.
The main drivers of that were consistent commentary from him about full employment and ongoing risks to the inflation side of the mandate.One of the few changes to the statement was to highlight stronger consumer spending and that was perhaps inspired by today's retail sales report, which showed surprising strength across the board, even as oil prices started to bite. Higher inventories also led to a strong upwards adjustment to Q3 GDP trackers.
The market reaction to the Fed decision and press conference was straight-forward with short-dated yields and the US dolalr rising. As the news was digested the bids continued and the euro steadily fell 80 pips to 1.1464.
It was a similar story across the board as the yen extended its post-intervention high to 156.10.Now we wait for the inevitable tantrum from the White House.
ADVERTISEMENT - CONTINUE READING BELOWAdvertisementAdvertisementMust ReadAdam Button on Gold, Market Noise and Risk | What Traders Need to Know Before Q4Why risk management in trading matters if you want to stay in the gameEuropean stock market open: Relief bounce lifts stocks, but higher bond yields keep the pressure onUSD/INR continues to follow oil prices in lockstep as focus shifts to US-Iran negotiations. What's next?This Nasdaq 100 technical analysis slightly favors the bears for todayGold breaks key support, slides below $4,230 as danger zone gives wayGoldman: US diesel export ban would cut US prices about 4%, lift European cost (d'uh)Gold futures technical analysis and an important trade management for lifeGold selloff pauses as US-Iran talks revive deal hopes.
What to watch next?Silver remains at risk of further downside as US-Iran talks take centre stageEuro area economic sentiment slips in September as inflation expectations riseIran expects US response today on Hormuz proposal as oil prices climb againADVERTISEMENT - CONTINUE READING BELOWAdvertisementBest in 2026SponsoredGeneral Risk WarninginvestingLive is a market news and analysis platform that lists and reviews forex brokers for informational use only. We do not provide investment advice or brokerage services.
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