The Federal Reserve didn’t help oil bulls as its inflation-fretting has seen us rate-cut doubts grow
Fed Chair Jerome Powell gave financial markets a slight dovish nudge last night, seemingly ruling out any US interest rate hikes. Yesterday’s weak JOLTs data put the spotlight on Friday’s NFP report.
This article discusses the short-term outlook for the US dollar from a fundamental and technical standpoint following the Fed's decision, focusing primarily on two currency pairs: EUR/USD and GBP/USD.
The Federal Reserve held interest rates unchanged for the sixth consecutive meeting, in line with expectations. Powell may offer more clues about the policy outlook during his press conference.
It seems highly likely that Tokyo intervened to boost the Yen this week. But, if it did, it didn’t get much for its money.
The Euro is struggling against the a resurgent US dollar as rate cut expectations between the two continue to widen. Today’s FOMC may underpin thoughts that the Fed is comfortable with rates staying higher for longer.
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