Markets are fully pricing a 25 basis point rate cut (bringing the fed funds rate range at 4.00% – 4.25%), with attention focused on Powell’s guidance regarding the pace of future easing. While the Fed remain the focus for investors, other major central banks—including those in the UK, Japan, Canada, Norway, and Brazil—are also holding monetary policy meetings this week.
Oil prices rose by 0.7% on Monday, with Brent crude trading at $67.4 per barrel. The increase is being attributed to Ukraine’s attacks on critical Russian oil infrastructure. Gold also rose during the session, reaching new highs.