U.S Equity Markets got hit hard yesterday after Fed Chairman Jerome Powell told the Senate Banking Committee that the central bank is prepared to re-accelerate the pace of interest rate hikes to further slow inflation growth. Powell also pointed out that stronger economic data could suggest that the peak rate would likely be higher than initially expected. The Dow led the decline, closing lower by 1.72%, while the VIX ended the day with a gain of 5.50%. Following Powell’s testimony, expectations for a 50-basis-point rate hike at the March meeting rose. The Manheim Used Vehicle Value Index for February showed prices rose 4.3% from January, the highest monthly increase since 2009. However, prices remain 7% down from levels seen a year ago. Within the S&P 500 Index, all the 11 sectors finished lower. European Markets closed lower. The ECB said three-year inflation expectations dropped from 3% to 2.5% – a sign that prices are becoming anchored and diminishing the need for continued rate increases while German Factory Orders for January weakened compared with December’s numbers, indicating the pace of economic growth is holding. ECB officials are becoming increasingly divided on the direction of monetary policy ahead of next week’s meeting. The Bank of England’s Catherine Mann reiterated her inflation worries and indicated that more work will need to be done as pricing pressures from firms could keep inflation elevated. In Asia, The Reserve Bank of Australia raised its cash rate by another 25 basis points to 3.6% as Governor Philip Lowe suggested it could be close to done with interest rate increases. Japan’s Wage Growth for January was weaker than anticipated, easing pressure on the central bank to raise interest rates. Chinese President Xi Jinping called on private-sector companies to play a greater role in domestic innovation and technology development to boost economic growth. Newly appointed Chinese Foreign Minister Qin Gang said the country will increase its diplomatic efforts in an attempt to strengthen relationships and improve trade. Elsewhere, Oil fell 3.83% while Gold fell 1.90% after the Dollar rose 1%.

To mark my 2725th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day to demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it lost 100 points yesterday and is now ahead by 1022 points for March after finishing February with a gain of 3164 points, after closing January with a gain of 4687 points, while finishing December with a gain of 2054 points. November ended with a gain of 4789 points, while finishing October with a record gain of 9619 points, making 6660 points in September, after closing August with a gain of 2228 points, having made 2660 points in July, following a gain of 3371 points in June. The Service made 3651 points in May, after making 762 points in April, following a gain of 5883 points in March. The Platinum Service made an impressive 5324 points in February, after ending January with a gain of 3878 points, more than making up for December’s 932 points loss. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification 

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