Last week Powell delivered a speech, emphasizing that there’s no rush for rate cuts as the economy remains strong, jobs data is stable, and inflation is still above 2%. These are significant remarks, suggesting that the Fed may hold steady at upcoming meetings. Despite Powell’s comments, the USD index paused for a bit, but that looks like a correction within uptrend, rather than the top for the buck. In fact, now that Powell has essentially confirmed his “hawkish” outlook, the market could be viewing this as risk for stocks, and we have experienced a sharp reveral down on Friday, trend that can resume lower this week. If that would be the case, DXY can resume up to 108. At the same time JPY can see some upward movement as well.
For more analysis check the webinar below, where we also covered cryptos, including ripple
Grega
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