Looking good for Mclongy8 Nov 2022 05:57
Looks like the thesis on here that Powell is making his hawkishness personal is being confirmed Pivot on the cards
FX Street
Here is what you need to know on Tuesday
The week started with the dollar trying to recover the ground lost on Friday, but the USD ended up losing further ground against its major rivals. The greenback accelerated its decline late in the US session as Wall Street picked up momentum ahead of the close. Different factors underpinned the market sentiment, one of which is renewed speculation the Fed is near a pivot on monetary policy. The central bank is expected to ease the pace of quantitative tightening regardless of PowellΒ΄s hawkishness. Another factor is China. Despite the number of coronavirus cases on the rise, investors are once again pricing in easing restrictive measures. Finally, there is some growing speculation Russia and Ukraine may de-escalate the ongoing conflict