Market sentiment has been swayed by news over the past few weeks, with Fed Chairman Powell testifying in Congress and market speculation that the Fed needs to raise interest rates by 0.5%; then released mixed non-agricultural employment data, with better-than-expected new jobs but signs of a decline in average wages, and a 0.25% into the mainstream view; the market suddenly burst out the United States has a bank bankruptcy shock market confidence, fear of becoming a financial tsunami Lehman 2.0, and there are big banks that the Fed will stay put to keep interest rates unchanged, and even refers to the emergency interest rate cuts to rescue the market;.25%。Of course, there has been a succession of negative bank news, even speculation to the Credit Suisse accident, to the Swiss central bank is willing to borrow money to solve the liquidity problem, plus the European Central Bank as expected to raise interest rates 0..5%, which seems to reflect that the ECB is not overly concerned about systemic risks and is still responding to inflation as planned.。

In fact, this week the Fed's interest rate meeting is the market's top priority, the meeting will be released the latest bitmap, the Fed's final interest rate will be clear, the market does not need to estimate the next。Over the past few weeks, the market has moved from a rate hike to a rate cut to a return to an early February index rate hike of 0.The path of 25 per cent reflects the guilty conscience of market participants and, to some extent, the failure of the Fed to manage expectations over the past two years.。By misjudging the situation refers to inflation as a temporary start and the market does not agree with the start, to catch up with the rapid rise and fall of radical interest rate hikes, the market has been with the Fed, even earlier this year the market has long been expected the Fed to end the first half of the interest rate hike cycle and the need to cut interest rates in the second half of the year, the results of the latest interest rate futures reflect, even if this week the Fed。

ECB in addition to raising interest rates 0.5 per cent, also reiterating that the eurozone banking sector remains sound, with abundant capital and liquidity, and that inflation is expected to remain at excessively high levels for too long, so a half per cent rate hike is in line with the central bank's determination to return inflation to its 2 per cent medium-term target in due course.。However, the future trend of interest rates depends on economic data, which means that economic data is becoming more and more important to interest rate decisions, and interest rate decisions will be made based on the evaluation of the inflation outlook and changes in underlying inflation based on the economic and financial data obtained.。The euro remained at 1 against the dollar last week..0480 low this year, resistance still at 1 this week.0810。