During today’s session in the American session, the markets are awaiting a hearing for US Federal Council Chairman Jerome Powell before Congress in the semi-annual testimony, which is held twice a year, and he will complete it tomorrow before the Financial Services Committee in the House of Representatives.

In his last statements in February, Jerome Powell indicated that the process of reducing inflation has begun, but it will take some time before the January numbers come in stronger than expectations, and therefore the focus will focus today on whether Powell will continue to calm the markets that the Fed is on the right path to limit inflation hikes, or is it He will change his point of view and hint that inflation needs higher levels of interest than previously expected, especially since it will be the first after the inflation numbers issued two weeks ago.

After the recent jobs numbers in January and inflation figures, market fears and expectations rose, with a number of US Federal Reserve members confirming that the US Federal Reserve will continue to tighten monetary policy and go further than expected, raising futures expectations by the FEDWatch tool from CME and now seeing a 50-point hike in interest rates.

Basis in the March meeting by about 27.4%, compared to less than 10% before the latest numbers, while you see peak levels of US interest rates at 5.4% or higher. The US dollar is trading at 104.25 levels this morning, unchanged from its opening prices, down by 0.70% since the beginning of the week, after the US Treasury yields declined hours before Powell’s testimony, which will have a direct impact on the dollar’s movements.

Any hints from Powell that the Fed needs a stronger tightening of monetary policy, with which the peak of interest rates expected from the Fed will rise, will support the rises of the US dollar and will negatively affect the prices of stocks, metals, commodities, and vice versa if Powell repeats his recent statements that the process of reducing inflation continues and there is no need for additional tightening at the time Present .