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EUR/USD holds above 0.7000 after Powell delivered Premium
Fed Chair Powell temporarily boosted optimism pushing EUR/USD to 1.0766 saying that stronger-than-expected data will see the Fed raising rates accordingly. US Dollar bulls fight back and the pair trades below 1.0745.
GBP/USD trades around 1.2000 in Powell’s aftermath
GBP/USD flirted with 1.2100 within FOMC Chairman Jerome Powell's speech, but quickly trimmed gains and hovers around the 1.2000 figure. The US Federal Reserve further cooled expectations of a rate cut by year-end.
UPCOMING CALENDAR EVENTS
REAL-TIME RATES
Editors’ Picks
Gold: Holding above $1,860, but upside still seen limited Premium
Spot gold saw little action throughout the first half of the day, consolidating its latest losses just above the $1,860.00 threshold. The US Dollar mainly advanced against its European rivals, as certain caution reigned ahead of a speech from US Federal Reserve (Fed) Chairman Jerome Powell, resulting in XAU/USD holding within familiar levels.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: When all signs point north
The Crypto market continues to show bullish signals. Still, a trade-per-trade stance is being implemented as markets are highly elevated since January's 40% rally.
US trade deficit widened to close a volatile year for trade
The U.S. trade deficit widened in December to finish what was a volatile year for international trade flows. While 2022 marked the largest deficit on record, the U.S. trade balance narrowed over the course of the year. Trade flows will remain under pressure in 2023 amid slow global growth and a normalization in U.S. demand.