US Dollar to close the week on the back foot on monetary policy divergence DollarIndex UnitedStates Macroeconomics SEO
members with Jim Bullard, Chris Waller at 11:45 and Tom Barkin at 13:00 GMT. Look for clues or any change in statements in order to further clarify what Jerome Powell communicated in case the Fed is not happy with the current stance of the markets, as Michigan Consumer Sentiment and Inflation expectations are to close off this trading week at 14:00 GMT in terms of economic data.
The China Hang Seng stock market is printing a winning streak as more stimulus supports its performance. A mixed bag in European equities and US futures at the moment with thin gains and losses on the quote board as investors are looking for clues on what to do next. On the upside, a whole other ball park now as the 55-day Simple Moving Average at 102.55 has turned from support into resistance. Should the DXY recover further today, look for the 103 psychological level as the next big challenge to the upside. The high of May at 104.70 remains the ultimate target longer term.
When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing . QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
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