
Jump in to know the key market events and trading ideas for this week!
In addition, at 19:00 MT we anticipate the speech by the Fed Chair Jerome Powell. His speech may provide clues on the Fed's view of the US economy and the further rate hikes.
During the American session, Trump commented again on the rate hikes by the Fed, mentioning that he is "not even a little bit happy" with the Fed Chair Jerome Powell.
As a result, the US dollar index has slid a little today. Further direction of the index depends on the Fed chair comments and the GDP release. If they provide the positivity to the investors, the US Dollar index can rise towards the resistance at 97.48. In case of disappointment, it can fall below the support at 97.16
Jump in to know the key market events and trading ideas for this week!
USD’s rally takes a pause, while riskier assets are modestly rising.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
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