
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
2021-02-19 • Updated
NZD/USD is in a historically spectacular episode. Currently, it trades above 0.7260. In doing so, it’s testing the last highs of February. Also, it’s in the highest zone since January. Above, it has the resistance zone of 0.7270 – 0.7300.
Therefore, we have two conclusions:
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
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The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.
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