Monday Market Update (26/09/2022)

We ended a week crowded with monetary decisions; the Fed rate hike of 75 basis points was followed by the Bank of England hike of 50 basis points. However, the dollar index reached above 114.40 this morning pushing dollars peers to new lows.

The Sterling pound traded at all-time low against the greenback at 1.0290 while the common currency was at 20 years low below 0.9550. The yellow metal traded at $1,635 per ounce this morning. On the other hand, crude oil continues to decline as WTI crude traded at $78 per barrel.

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