State of the market: the market continues to assess the results of the US Federal Reserve meeting - Ester Holdings
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State of the market: the market continues to assess the results of the US Federal Reserve meeting

According to the results of the April meeting of the US Federal Reserve, the monetary policy did not change. The main factor in the strengthening of the US dollar was the statement by Fed Chairman Powell that they did not see the need to change rates on either side. As a result, it was regarded by the market as a positive factor for the US dollar, because it was expected soft rhetoric from the Fed aimed at lowering rates in the future amid a slowdown in inflation.

In turn, the market reacted with a restraint to the Fed meeting results, partly playing back a decline while waiting for soft rhetoric. Despite the fact that the US dollar index slowed down the decline, the risks of American dollar decline remain, and the market switched to a less significant data on employment in the US, which will be released on Friday.

The US dollar index was fixed above the level of 97.60, which indicated a reversal. But it is limited by uncertainty and resistance levels: 97.80 and 98.00.


Read also: “Financial quarter correction”

Hanzenko Anton


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