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Ben Robson's coverage of the trading week's most important market events.
After a week full of economic releases and key events, which had a notable impact on the markets. Another week comes with some key economic releases, which likely to keep the volatility on the rise.
The markets absorbed the Fed's decisions yesterday, US stocks started to fall from historical highs and the US dollar saw some slight declines after rising overnight after the Federal Reserve kept interest rates unchanged at 1.25% and left the door open for a third raise this year.
With no surprises, the Federal Reserve decided to keep the current Fed Fund Rate between 1.0% and 1.25% as widely expected. Yet, what mattered the most as we said in yesterday’s article is the Balance Sheet trimming decision, Dot Plot and the economic projections.
The markets were calm today, before the US Federal Reserve announcing the interest rate decision. The economic calendar was not full of major economic events during the day, so the markets were looking to see what the Fed will release tonight
During the early morning hours of the European session, the UK Retail Sales figures were released, which came in much better than expected, sending GBP higher across the board.
Today's trading was fairly calm as markets awaited FED's decisions tomorrow, the FOMC meeting started today to discuss continuing tightening of monetary policy as well as the continued calm in the North Korean crisis that eased demand for safe havens.
Gold and Silver declined last week after three weeks of consecutive gains, posting new highs of this year, despite the fact that the estimates for both metals has been bearish at the beginning of this year.
The start of the week's trading was fairly calm, but it saw some notable movements in the US dollar as well as US stocks, which recorded their highest levels historically as market fears about North Korea firing a new missile faded and the focus shifted to the Fed meeting on Wednesday evening.
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