The results of the speech of the US Federal Reserve Chairman Powell
Speech by the US Federal Reserve Chairman J. Powell had a very restrained influence on the market, despite the clearly hawkish tone of the statement related to the US monetary policy and intentions to revise the long-term strategy. The text of the speech of the Chairman of the Fed can be found here.
With all the ambiguity of the speech and the lack of clear statements regarding the US monetary policy, the Fed Chairmanf remains optimistic about employment and methods for solving existing problems. This is a positive signal for American dollar.
The US dollar index showed mixed trends in the publication of Powell’s speech. This was due to the lack of meaningful statements. The US dollar index maintains a sideways trend from 97.30-40 to 97.00 and is actually limited by the downtrend. Technically, the current situation looks more like a correction after a decline, limited by market indecision.
Fig. The US dollar index chart. The current price is 97.20 (10-year US government bonds yield is the blue line)
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Hanzenko Anton
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