Fed funds futures are now pricing in a 90% possibility of a rate hike in April and a 50% chance in March.
US Interest Rate Decision Actual 0.25% (Forecast 0.25%, Previous 0.25%) DXY weakened, S&P 500 whipsawed, Gold weakened.
Fed policymakers see three quarter-point rate hikes in 2022, three more rate hikes in 2023.
Fed instructs NY Fed markets desk to adjust open market purchases of Treasuries to $40 bln/month, $20 bln/month of MBS starting in mid-January.
BoC's Gov. Macklem: Removing forward guidance is coming closer.
BoC's Gov. Macklem: As a result of the exceptional forward guidance, inflation is likely to rise slightly above target after we exit ELB.
EIA: US crude stockpiles in SPR fell in the most recent week to their lowest level since December 2002.
US Retail Sales MoM Actual 0.3% (Forecast 0.8%, Previous 1.7%) DXY weakened, S&P 500 whipsawed, Gold whipsawed.
Canadian CPI MoM Actual 0.2% (Forecast 0.2%, Previous 0.7%) CAD weakened.