Evergreen buck struggles on Powell’s remark

Evergreen buck struggles on Powell’s remark

On Friday, the evergreen buck struggled for direction due to the fact that Fed Chair Jerome Powell came up with a statement that he would have the balance sheet changed if required.

Powell, who was delivering a speech at a Brookings Institution event alongside Janet Yellen as well as Ben Bernanke, told that the key US bank would act rapidly if market worries outweigh the firm economic data. He stressed that the major US financial institution is capable of adjusting its policy flexibly and instantly if required.  

In addition to that, Fed Chair stressed that notwithstanding trade tensions putting pressure on Chinese consumers, the statesman expects the leading Asian country as well as other emerging markets to stay consistent with the rest of the surge in the world.

Positive jobs data uncovered earlier in the trading session ramped up the likelihood that the Fed will have rates lifted next year.

Gauging the purchasing potential of the American dollar versus its primary rivals the USD index went down by 0.11% being worth 95.77. The evergreen buck managed to surge versus its Japanese counterpart. The currency pair USD/JPY added 0.6% trading at 108.31.

Moreover, the currency pair EUR/USD stood still at 1.1401 because of the higher greenback as well as the gloomy eurozone data. In December, eurozone consumer prices rallied at a slower-than-anticipated tempo, ramping up expectations that the ECB will keep interest rates intact.

Furthermore, the UK pound surged because the services sector speeded up in December. The British economy is losing momentum ahead of Britain’s departure from the European bloc. The currency pair GBP/USD managed to ascend by 0.44% being worth 1.2686.

The currency pair USD/CAD dived by 0.7% coming up with .3387. NZD/USD tacked on by 0.5% trading at 0.6724. As for AUD/USD, it rallied by 1.26% hitting 0.7091.

Similar

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera