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FED’s latest monetary decision fueled the dollar’s rise

  

FED’s latest monetary decision fueled the dollar’s rise, and investors uncertain as they fear the FED’s hinting at reversing the QE strategy. NVIDIA saw elevating while JP Morgan dropped.

Last Week Risers & Fallers: 

NVIDIA (NASDAQ: NVDA) stock price rose by 4.13% following the Bank of America raising its share price target from $800 to $900.

Shares of Amazon.com Inc slumped 0.07% to $3,486.90 Friday on what proved to be an all-around poor trading session for the stock market.

USDCHF gained 0.513% due to market sentiment favouring the USD. The FED’s decision to raise interest rates in the coming months contributed to the rise in the USD. 

Nasdaq was down 0.92% as stocks reacted to the FED’s latest monetary policy decision. Investors were wary due to the FED’s intention to start tapering assets purchases.

JP Morgan & Chase (NASDAQ: JPM) – JP Morgan & Chase share price dropped by 7.53%. The drop was due to a sell-off caused by an anticipated increase in interest rates and inflation.

Major events to watch: 

· USA (USD): Crude Oil inventories report to be released Wednesday 23 June, 14:30 GMT. Traders will see if the increase in Oil inventories is less or more than expected for bearish or bullish crude prices.

· UK (GBP): UK Manufacturing PMI release Wednesday 23 June at 08:30 GMT. UK Manufacturing PMI was revised slightly lower to 65.6 in May of 2021 from a preliminary of 66.1.

· USA (USD): GDP Q1 results to be released Thursday 24 June at 12:30 GMT. Current‑dollar GDP increased 11.0% at an annual rate, rising to $566.3 billion in the first quarter to a level of $22.06 trillion.


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