Last week was typically the most volatile week for traders across the globe. Global stocks and commodities tumbled after the major central banks including the US Federal Reserve and Swiss National Bank have turned extremely hawkish. The FED increased interest rates by 75 basis points (bps) in the last meeting on Wednesday, followed by the SNB’s largely unexpected decision to hike rates by an aggressive 50 bp.
This week inventors anxiously awaiting the FED chair Powell’s Testimony. Powell will deliver his testimony on the economy to the Senate Banking Committee on Wednesday morning, and then again to the House Financial Services Committee on Thursday.
Check out the detailed weekly analysis here - https://gulfbrokers.com/en/weekly-review-gold-usd-eurusd-and-dow-jones-35