The Fed also raised its projections for economic growth in 2024, up from 1.4% to 2.1%, signalling that the US economy’s much-discussed “soft landing” was in sight. It’s rare to have strong economic growth, decreasing inflation and a simultaneous decline in interest rates.

OPEC forecasts that 2024 will see overall demand increase by 2.2 million barrels per day, with a 1.8-million-barrel increase in 2025.

In February, Saxo Bank reported a monthly Forex trading volume of $92.4 billion, down from $106.7 billion in January and a huge decline from $134.8 billion in December 2023.

Scams on messaging services like Telegram and WhatsApp are a growing threat, as clone brokers and fake signal providers proliferate. 

Any moves above the 1.0860 level could see the 1.0900 psychological level come into focus, and beyond that, traders will be eyeing the 1.0950 level.