EUR/USD rises past 1.16 as Powell’s neutral stance impacts the Dollar
The EUR/USD pair saw a bit of a rebound on Tuesday, influenced by Fed Chair Jerome Powell’s dovish comments and the French government’s decision to halt pension reform discussions. It is currently trading up by 0.32%, now at 1.1606. Euro rises as Fed chair raises concerns and France halts pension overhaul The euro’s uptick can […]
Pound Sterling depreciates further against the US Dollar before Fed Powell’s speech.
The British pound (GBP) has seen a continued decline against the US dollar (USD) for the third consecutive day, dropping to about 1.3365 on Thursday. This comes as the US dollar index (DXY) rebounded after a previous dip. During European trading hours, the DXY, which measures the dollar against six major currencies, first corrected to […]
Forex Today: Focus on Fed Chair Powell’s speech as shutdown persists
Here’s a quick overview for Thursday, October 9th. Traders will be paying close attention to statements from central bank representatives, particularly Federal Reserve Chair Jerome Powell, as the release of significant economic data from the U.S. will be delayed due to the ongoing government shutdown. USD price this week The following table highlights the percentage […]
The illusion of Federal Reserve independence falls apart with Powell’s record
The Federal Reserve: A Complex but Crucial Entity One of the most intricate yet vital components of the U.S. government is the Federal Reserve system. Individuals in banking, investment, and even the presidency often watch anxiously to see how the Fed will handle interest rates. The Fed holds such significant influence over the global economy […]
Japanese Yen rises close to 147.50 following Powell’s speech at the Fed.
USD/JPY drifts lower to about 147.60 during the early Asian trading on Wednesday. Powell from the Fed indicated that a sluggish labor market has prompted the consideration of interest rate cuts. Political uncertainties in Japan contribute to the yen’s weakness, yet help curb losses in the currency pair. During the early hours of the Asian […]
EUR/USD remains stable as Powell’s position and low PMIs support the Euro’s rise.
As Powell mentioned, EUR/USD remains relatively stable. Both the US and Eurozone Flash PMI reports indicate a slow down in business activity, raising concerns about GDP growth. While the Fed anticipates a rate cut in October, the ECB seems poised to maintain its current rates, lending some support to EUR/USD. The EUR/USD pair climbed above […]
EUR/USD remains stable as PMI reports signal a slowdown in growth, markets prepare for Powell’s speech
EUR/USD remained steady on Tuesday after PMI data indicated a slowdown in momentum on both sides of the Atlantic. The US S&P Global Composite PMI dipped to 53.6 in September. Traders are awaiting Powell’s comments at 16:35 GMT, following signals from Bowman and Goolsbee. The euro (EUR) is treading water against the US dollar (USD) […]
USD/JPY remains stable as the US Dollar strengthens before Powell’s address
The USD/JPY remains steady as the US dollar holds firm on Tuesday, awaiting Powell’s comments. The US S&P Global PMI saw a decline in September but still indicates growth. Fed’s Goolsbee mentions that significant cuts will be avoided, maintaining a cautious policy approach. The Japanese Yen (JPY) is experiencing modest pressure against the US dollar […]
EUR/USD climbs to 1.1800 as the Dollar falls before Powell’s speech.
Fed officials displayed differing views: Bostic, Musalem, and Hammack leaned hawkish, while Miran was dovish, suggesting neutral rates at just 2%. The dollar index dropped by 0.34%, landing at 97.31, which weakened the USD and boosted the EUR/USD pair. Traders are eager for new insights from Powell’s upcoming speech and the Flash PMI data set […]
EUR/USD drops to 1.1780 as Powell’s strong stance supports US Dollar
The Euro dips as Powell expresses a cautious stance despite a 25 bps rate cut. The jobless claims data and the Philadelphia Fed report exceeded expectations, bolstering the dollar’s performance after the FOMC meeting. ECB officials maintain a neutral tone, stating inflation risks are balanced while acknowledging a weak growth outlook. The EUR/USD saw an […]