1. Home
  2. Markets Updates
  3. NAGA’s Weekly Recap | March 20 — 24 — 2023

NAGA’s Weekly Recap | March 20 — 24 — 2023

24 March 2023

Share the article:

Maxim Bohdan

As we delve into a rollercoaster of financial events, we'll uncover the Federal Reserve's daring rate hike amidst a banking crisis, Bill Gates' AI revolution vision, and the resolute rise of Gold.

Fasten your seatbelts for an exciting journey through the twists and turns of the financial markets! 🎢


A Fed’s quarter-point hike amid banking crisis

In a bold and decisive move, the Federal Reserve has turned up the heat in its battle against inflation.

On March 22, 2023, the Fed raised its key interest rate by 25 basis points, sending borrowing costs soaring to levels unseen since 2007.

Following the Fed's rate hike, various market segments reacted differently to the news, reflecting the situation's complexity and the factors influencing each sector. For example, the US Dollar Index felt the pressure, and Gold reacted with growth.

Read the full article for more on the impact of the Fed's monetary policy on the markets.

Read more

Trading involves significant risk of loss.

 

Bill Gates envisions AI revolution: a catalyst for soaring stocks in tech giants Google and Microsoft

Bill Gates lauds artificial intelligence (AI) as the most groundbreaking innovation in recent history, likening its importance to that of computers, mobile phones, and the internet.

The discourse surrounding AI applications has surged following the November debut of OpenAI's ChatGPT. At its core, AI pertains to a computer's ability to learn from massive datasets and mimic human-like reactions.

Industry behemoths such as Google ($GOOG) and Microsoft ($MSFT) have achieved remarkable AI advancements, fueling intense rivalry within the sector. Shares of these companies were mostly on the rise this week.

Explore Stocks on NAGA

Trading involves significant risk of loss.

 

Gold broke $2000 while markets focused on the Fed decision

The price of Gold against the US Dollar has increased in value. As mentioned last week, traders should also note that Gold and the Dollar’s inverse correlation has significantly weakened. This week, the price of the Dollar and Gold are both seeing an increase in demand. The main price driver relates to the instrument’s status as a safe haven asset.

Investors have been driven to safe haven assets for many reasons related to lower investor confidence and a risk-off appetite. The most recent influence was the emergency Federal Reserve meeting. It has also been confirmed that the Fed has boosted Dollar funding to 5 global central banks through swap lines.

Explore Commodities on NAGA

Trading involves significant risk of loss.


$GBPUSD climbs to 6-week high, following BOE rate decision

The $GBPUSD climbed to a six-week peak in response to the Bank of England's decision to raise interest rates.

In the last session, the BoE opted for a 25 basis point hike, marking the highest rate since 2008.

This move comes as the BoE aims to maintain its current monetary policy after an unexpected inflation surge last month. The Monetary Policy Committee reportedly voted 7-2 in favor of the increase, resulting in a new rate of 4.25%.

As a result, the $GBPUSD reached 1.2343 on Friday, its highest level since February 2nd.

Explore Forex pairs on NAGA

Trading involves significant risk of loss.


This concludes our weekly recap. Have a great weekend and see you next week! 👋

IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail client investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Related articles

NAGA Weekly Recap June 9 - 13, 2025
13 June 2025
Catch up on this week’s market moves: strong U.S. jobs data lifted sentiment, but inflation risks and stalled trade talks kept investors cautious. Tech led gains, oil climbed, and the dollar slipped. Read the full financial recap for June 9–13, 2025.

Read more

Gladys Eguia

Top Economic Events to Watch | June 9 - 13, 2025
10 June 2025
Get the latest CPI, Core CPI, and PPI data insights for June 2025. Discover how this key inflation data could impact markets and your trading strategy.

Read more

Gladys Eguia

NAGA Weekly Recap June 2 - 6, 2025
6 June 2025
Markets steadied this week ahead of the NFP report, with inflation cooling, tech stocks rallying, and gold and FX reacting to shifting Fed rate expectations. Get the full breakdown across stocks, commodities, and currencies.

Read more

Gladys Eguia