Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Will the Fed surprise the market?
The Federal open market committee (FOMC) will make its monetary policy statement and announce the interest rate on March 20, 20:00 MT time. The rate hike will not happen this time, but the Federal Reserve will definitely shake the market with the hawkish comments. During the previous meeting, the Fed Chair Jerome Powell said that the financial regulator would continue its patient approach in conducting the monetary policy. He also pointed out that the current level of the interest rate was appropriate for the US economy now. His dovish comments weakened the USD. Let’s see where the Fed is heading this time.
• If the FOMC is hawkish, the USD will go up;
• If the FOMC is dovish, the USD will go down.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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