The US dollar continues to record gains for the second consecutive session this morning, Thursday, 24 March, and before the opening of the European markets, as the general index of the US dollar rises by about 0.20%, trading at 98.81 levels, benefiting from the sharpening of monetary policy tightening by the Federal Reserve in the recent period. .

The statements of the Fed members during the session yesterday, Wednesday, supported the gains of the US dollar, as the Federal Reserve Chair in San Francisco, Mary Daley, indicated that the US Federal Reserve needs to raise interest rates by 50 basis points at the May meeting, and that she wants to raise interest rates by at least 2.5% during the year compared to the expected inflation.

On the other hand, the President of the US Federal Reserve in Cleveland, Loretta Mester, indicated that she supports a faster rate hike in the coming period, and that the Fed must do what is necessary to control inflation.

All these statements from members of the US Federal Reserve, which were preceded by Jerome Powell’s statements at the beginning of the week that the bank is ready to take any decision to control inflation, supported the rises of the US dollar to raise market bets and expectations for futures contracts, according to the CME fedWatch tool, in pricing by more than 68% to raise interest rates by 50 basis points in a meeting next May.

On the other hand, the yield on US treasury bonds resumes its increases this morning, Thursday, after it recorded some correction yesterday, Wednesday, as the yield on the ten-year bonds trades at an increase of about 1.32% at 2.352 points.

During today’s session, the markets are awaiting many economic data, as the Swiss National Bank will announce its monetary policy after less than two hours, as expectations indicate that the bank will keep its monetary policy and interest rates unchanged at its meeting today at the current negative levels of 0.75%.

The Purchasing Managers’ Index issued by the PMI in the manufacturing and services sectors is expected to be released successively from the European region, then the United Kingdom, then the United States of America, in addition to the durable goods orders index from the United States of America.