The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
At the annual forum of the European Central Bank in Sintra, Portugal, all central bank heads from participating countries voiced a common goal - to reduce inflation to the target level of 2%. They pledged to continue raising interest rates to combat persistently high inflation.
Fed Chairman Jerome Powell emphasized the need to see further easing in the labor market. Several leading economies also experience significant GDP contractions, with the US and Japan seeing GDP levels drop to 1.2%, and England and the Eurozone to 0.6%.
Powell mentioned that rate hikes will likely continue, until data indicates a significant decrease in inflation. Other major central banks such as the ECB, Bank of England, and Bank of Japan, pursue a similar monetary policy.
Powell also hinted at two more 25-basis-point rate hikes this year. The CME FedWatch tool said the first rate hike may take place in July.
The speeches of central bank heads at the forum added volatility to the markets, and their prospective aggressive policies exerted pressure on precious metals.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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