Forex Top Team

Yesterday’s remarks by Powell were well-balanced, and the price movements of the dollar market slowed down.

The interview with US Fed Chairman Jerome Powell, which attracted attention yesterday, seemed to have a good balance of strengths and weaknesses. As for inflation, he said that disinflation has started in the goods sector, and that he expects a significant drop in inflation this year. On the other hand, he indicated that he would continue to raise interest rates to curb inflation.

The market reacted nervously to each of his remarks, but they did not move enough to change the trend of the dollar’s strength since late last week. The further appreciation of the dollar seems to have come to a halt. As Governor Kashkari said, the financial authorities should not be overwhelmed by a single employment report. For FX traders, though, events that provide volatility are welcome.

After passing a series of high-profile events today, the market is in a somewhat elusive atmosphere.

The economic indicators released in overseas markets after this are limited, such as the US MBA mortgage application index (01/28 – 02/03) and US wholesale inventory (confirmed figures) (December).

 

Hard to find today. Basically, it is assumed that the market will end up in a range trend.

Current position is AUDNZD buy only.