Next Week News

Some experts are warning that the economy will take a “major hit” next year as the Fed struggles to combat inflation. For example, Deutsche Bank on Tuesday became the first major bank on Wall Street to forecast a recession next year, albeit a "moderate" one, thanks to the combination of surging inflation and rising interest rates.

Weekly price of Deutsche Bank stock was bounced from 9.46 bearish support area to above for crossing Ichimoku cloud with 13.36 resistance with the 16.70 next bullish reversal resistance target.

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"The risk is rising that inflation expectations drift away from central bank inflation targets, prompting a more aggressive tightening response from policymakers," IMF Chief Economist Pierre-Olivier Gourinchas warned.
"Furthermore, increases in food and fuel prices may also significantly increase the prospect of social unrest in poorer countries."

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In an effort to return elevated inflation to its 2 percent objective, the Federal Reserve on Wednesday announced its widely expected decision to raise interest rates by half a percentage point. The Fed announced that it has decided to raise the target range for the federal funds rate by 50 basis points to 0.75 to 1.0 percent.

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Job growth in the U.S. exceeded economist estimates in the month of May, according to a closely watched report released by the Labor Department on Friday.

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The Swiss National Bank raised its key interest rate unexpectedly on Thursday, to combat inflationary pressures.

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A closely watched report released by the Labor Department on Friday showed U.S. job growth exceeded economist estimates in the month of June. The Labor Department said non-farm payroll employment jumped by 372,000 jobs in June after surging by a revised 384,000 jobs in May.

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The Reserve Bank of Australia (RBA) Minutes may do little to influence AUD/USD as the central bank appears to be on a preset course in normalizing monetary policy.

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Inflation is diminishing the value of the euro, yen and pound relative to the goods and services they can buy even faster than it ravages the greenback. The dollar index, which measures the U.S. currencies against those three rivals plus the Canadian dollar, Swedish krona and Swiss franc, has surged almost 20% over the last 14 months, notably reaching parity with the euro this month for the first time since 2002.

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Markets are discounting a 75-bps rate hike from the Fed this week. Is that enough for the US Dollar?

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In a widely anticipated move, the Federal Reserve on Wednesday announced its decision to raise interest rates by 75 basis points. The Fed said it decided to raise the target range for the federal funds rate to 2.25 to 2.50 percent in an effort to achieve its dual goals of maximum employment and inflation at a rate of 2 percent over the longer run.

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