FOREX
The US dollar index reached a 7-week high during early Thursday trading, responding to the hawkish stance presented by Jerome Powell at the conclusion of the Fed's January meeting. As anticipated, the central bank kept rates unchanged and notably omitted any references to further monetary tightening in its statement, signalling that the next move could likely be cut. However, the Fed Chairman disappointed those anticipating a rate cut in March, virtually ruling it out. With the US economy demonstrating resilience, the Fed has found additional leeway to sustain its restrictive monetary policy for an extended period, fostering a dynamic that bolsters the strengthening of the dollar against other major currencies.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades (“AT”). The information does not contain a record of AT’s prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk.