❗ USD sinks and indices rally after Powell's presser
The US dollar is slumping and equity markets rally following today's Fed decision and, more importantly, Powell's press conference. Powell noted that disinflationary process has begun and while he stressed that it is too early to declare victory over inflation, markets quickly jumped to conclusions - less rate hike going forward. Money markets are now pricing in a Fed peak rate below 4.90% and end-2023 rate at 4.4% - indicating rate cuts. US100 gains over 2% while EURUSD is closing in on 1.10 mark.
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Open account Try demo Download mobile app Download mobile appEURUSD climbs to the highest level since April 2022 and is closing in on a 1.10 mark. The pair trades with an upward channel since September 2022. Source: xStation5
US100 trades at the highest level since September and breaks above 12,400 pts mark. Index climbed over 15% off a local low from January 6, 2023. Source: xStation5
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