Interest Rate Decisions Set to Shake Up Markets This Week

Interest Rate Decisions Set to Shake Up Markets This Week
Good morning traders, and welcome to a promising week ahead! This week is packed with significant events, particularly with three major interest rate decisions scheduled. Tuesday will see the decision from Australia, followed by crucial announcements from Switzerland and the UK on Thursday. These events are expected to stir up the markets.

Commodities are currently experiencing a downturn, continuing the trend from Friday. Oil has hit a key downtrend line and might be on the verge of a new bearish phase. Both silver and gold are flirting with long-term support levels, hinting at potential breakouts soon.

Indices are showing mixed signals. The NASDAQ continues its impressive climb, hitting long-term highs thanks to its tech-heavy composition. In contrast, the DAX is struggling despite a recent uptick, as it bounces off midterm lows, reflecting a generally bearish sentiment. Similarly, the Dow Jones isn’t painting a rosy picture, with a cautious outlook prevailing.

On the currency front, we’re observing weakness in the New Zealand and Australian dollars. In stark contrast, the American dollar and Swiss franc are showing strength, while emerging European currencies like those from Czechia, Hungary, and Poland are gaining ground.

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