A text of the eagerly anticipated speech from Fed chair Jerome Powell has been released in recent minutes, with the overall tone pretty balanced and fairly neutral. Key lines from the text were that the Fed “will act as appropriate to sustain the expansion” and that the 3 weeks since the last meeting were “eventful”. There was no mention of the “mid-cycle adjustment” that roiled markets last time out and this speech seems to be almost deliberately neutral, possibly offering little by the way of firm conviction in light of the recent China tariff news. In terms of market reaction it’s a bit of a mixed bag with yields ticking lower along with the USD while stocks have moved off their recent lows.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appEURUSD has seen on of the clearer moves with the pair rising by around 30 pips since the text was released. Source: xStation
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
