Range-bound Trading Expected In The Coming Weeks

A number of Federal Reserve members delivered hawkish messages, demonstrating their tenacity in the war against inflation and reiterating that the Federal Reserve’s top goal is still managing it, and they have no plans to veer from their current trac

"Risk aversion may develop as a result of the prolonged uncertainty surrounding the RussiaUkraine conflict, in which Russia has threatened to use nuclear weapons to occupy portions of Ukraine. Flows may be diverted to assets with lower risk levels, like gold."

Despite renewed supply shortage issues, ongoing inflation concerns and the Federal Reserve’s pledge to control inflation alongside recession fears, the prices of commodities remained volatile. Recent remarks by Federal Reserve officials make it quite evident that the instability of the financial markets did not deter them from raising interest rates further. In Asia, oil prices remained stable as the US dollar declined, but gains were constrained by increased shale production and worries that persistently high inflation would push the global economy into recession.