BREAKING: USD drops as Powell announces inflation target change

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

5 October 2026, 6:49 AM

Morning Briefing: Dollar gains, oil falls. EURUSD at multi-month lows

1 October 2026, 3:10 PM

BREAKING: U.S. ISM Manufacturing Data Misses Expectations. Dollar Reacts Sharply

1 October 2026, 11:28 AM

EURUSD extends its decline 📉 Are high energy prices weighing on Europe?

1 October 2026, 6:46 AM

Economic Calendar - Global series of manufacturing PMI indicators and a marathon of central bankers' speeches

Forex

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