With the market’s pricing in a Fed hike in December, (Fed fund futures yields repriced the chance of another rate hike in December at 70% (from 75%)), while elsewhere, the risks are mounting on a geopolitical and economical macro sense, (perhaps oil’s rout is a savour), today’s speech from Fed Chair Powell where he is slated to speak at 2300GMT and discussing the US economy, should be one to tune into.
Ahead of the event, we have the greenback down a point to 96.70 lows and being weighed by the 25% drop in oil and US yields pulling back.
Key notes:
- Wall Street closes in red dragged by financials and technology
- S&P500 Technical Analysis: Double bottom bull flag can be in the making above 2,700 figure
- US yields: 10Y to hit 3.5% in three to six months – Danske Bank
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About Jerome H. Powell
Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018
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