Forex Today: Stocks Lower on Rate Hike Focus

Markets look to a slew of anticipated rate hikes expected this week from major central banks, plus US inflation data.


  1. Stock markets have started the week lower as markets focus on expected rate hikes this week from four major central banks, including the US Federal Reserve which is expected to hike by 0.50% regardless of US inflation data which will be released Tuesday. Annualized US inflation is expected to decline from 7.7% to 7.3%.
  2. The price of Silver closed Friday at a new 6-month high, unlike the rest of the commodity market which is in decline. Silver is now attractive to trend traders and has a positive expectancy to rise over the coming day.
  3. There will be a release of British GDP data today.
  4. US Treasury Secretary Janet Yellen has said that there is a risk of a US recession, but it is not required to bring down inflation to its target level.
  5. Daily new global coronavirus cases rose last week for the fourth consecutive week.  
  6. It is estimated that 68.6% of the world’s population has received at least one dose of a coronavirus vaccination.
  7. Total confirmed new coronavirus cases worldwide stand at over 653.8 million with an average case fatality rate of 1.02%.  
  8. The rate of new coronavirus infections appears to now be significantly increasing only in Guatemala, Japan, and New Zealand.  
Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.