Forex Today: Waiting for Powell
|Here is what you need to know Wednesday, November 13th:
- The dollar recovered during the first half of the day, losing some steam in the US afternoon with Trump sort of disappointing by not offering fresh clues related to the trade deal with China. The EUR/USD remained depressed and near the 1.1000 figure.
- The Sterling spent the day in consolidative mode. The latest polls show that the Labour party keeps shortening distance with Conservative lead. Nigel Farage refused to make more concessions to Conservatives.
- Asian and European equities edged higher, but Wall Street was unable to follow the lead, trimming most intraday gains ahead of the close. The market sentiment deteriorated following Trump’s comments, criticizing the Federal Reserve decision to keep rates high.
- Safe-haven assets appreciated just modestly in the last trading session of the day, at risk of losing ground.
- Market players await US Federal Reserve’s chief Powell testimony before the Congress.
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