Last week, Federal Reserve Chairman Jerome Powell acknowledged a recession is “certainly possible” whilst the UK recorded a 40-year high inflation figure. Despite this, stocks seemed to bounce back. Can this continue？ Find out in our week ahead article!
ECB President Lagarde Speaks
The first of three key speeches come from the European Central Bank President Christine Lagarde. The markets are expecting her to remain strong on interest rate hiking to ensure that inflation stabilises at the 2% target over the medium term.
BOE Governor Andrew Bailey Speaks
Andrew Bailey will have questions to answer after the historic 9.1% Consumer Price Index reading last week. Traders will be eager to decipher how the Bank of England will combat a surge in living costs, as the pound remains weak.
Fed Chair Powell Speaks
Arguably the most influential speech in terms of market volatility will come from the Federal Reserve Chairman Jerome Powell. He has recently told the public that rates will be hikes by 75bps, can he be any more hawkish than this？
In a week where news events are relatively light, the markets could continue its likely “bear market rally”, although the recessionary problems are still very much present.
Everyone at Zenfinex wishes you the best trading week. If you would like to know more about the products we offer, feel free to visit www.zenfinex.com.
Disclaimer:Trading Foreign Exchange is highly speculative and may not be suitable for all investors. The leverage created by trading on margin can work against you and losses can exceed your entire investment. Only invest with money you can afford to lose and ensure that you fully understand the risks involved.
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