Global markets including equities, commodities and precious metals started the new on a bearish note ahead of the Federal Reserve's monetary policy announcement on Wednesday.
EURUSD plunged to its lowest level since the beginning of April 2017. The currency pair hits a 5-year low of 1.0540 on Wednesday. Time to retrace?
Globally, the markets were cautious last week driven by hawkish comments from ECB and FED policymakers. Moving ahead to the last week of this month the investors and traders have become increasingly concerned about several ongoing issues including rising inflation pressures and China’s worsening Covid situation.
The second-largest bank in the US, the Bank of America (NYSE: BAC) reported better-than-expected first-quarter results on Monday, April 18. "First quarter results were strong despite challenging markets and volatility, which we believe reflects the value of our responsible growth strategy," $BAC CFO, Alastair Borthwick.
Global stocks ended the last week lower after a bigger-than-expected rise in U.S. consumer prices fanned fears about an increase in inflationary pressure.