For now the USD remains in uptrend despite Powell’s comments yesterday, who acknowledged that the increase in bond yields was leading to more restrictive financial conditions and recognized that this could potentially impact monetary policy. Not exactly really sure what this means for their decision looking forward, but I am sure that the main goal is to bring inflation back down to 2%, so possibly they may not hike too much anymore, but rather only keep rates at high levels for longer periods of time.
Have a nice weekend.
Grega
Dont miss next webinar on Oct 23 2023, 15.00 CET
https://www.tradingview.com/streams/b2iQLfCWrN/
https://www.youtube.com/watch?v=bC8RQtQ4ddI
Become a member
Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.
DAX Slowed Down As Expected. Check our blog HERE.