Long-awaited Powell's speech has begun at 2:10 pm BST. Federal Reserve chief announced a change in how Fed defines its inflation target. Instead of aiming for a 2% price growth, Fed will now aim for average price growth of 2%. This change implies that Fed will allow inflation to run above or below target at times. Apart from that, Powell hinted that employment is now taking priority over price stability. The US dollar took a hit following remarks while Nasdaq jumped above 12,000 pts. Gold has also received a boost.
EURUSD rallied after Powell announced change to Fed's inflation target. Source: xStation5
BREAKING: EU GDP data slightly above expectations! 📈💶
UK: pound and bonds tumble
BREAKING: French and Spanish inflation came in line with expectations 📌
Daily Summary: Shutdown ends, rate cut fades and risk is off
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