Today the focus is on Fed Chairman Powell, who will talk about the economy and the job market. MUFG Bank economists They signal that risks are tilted to the upside for the US dollar.
Powell in the spotlight
“We fully expect comments consistent with the above: more needs to be done, inflation risks remain to the upside, and the terminal rate will be higher than the points imply in September.”
“The key for the dollar and rates will be whether Powell’s comments are enough to significantly alter terminal rate expectations. That level is currently around 5.00% and the risks, in our view, lie firmly in the possibility of a reversal to the upside that would provide a new catalyst for a reversal of the recent period of dollar selling.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
