The US dollar is losing value today, thus interrupting the cycle of gains we have seen this week. The EURUSD pair is currently down 0.5%, with declines accelerating after Jerome Waller said that if Trump asks him to take on the role of Federal Reserve Chairman, he will agree. The Fed banker added that he personally does not see long-term inflation expectations rising, which may suggest that he is in favor of faster cuts.
Furthermore, Kevin Warsh, a former Fed member and potential candidate to succeed J. Powell, called on CNBC for a “regime change” at the Federal Reserve, criticizing the current leadership for its handling of inflation and resistance to rate cuts. According to Warsh, by “waiting for data,” the Fed is undermining its credibility and confidence in the effectiveness of monetary policy.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe pair stopped its decline within the 200-period exponential moving average on the H4 interval and is currently rebounding and retesting the zone consisting of the 50-period and 100-period EMA.
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.
