Analysts at TD Securities suggest that it’s showtime for Fed Chair Powell, who will be testifying on Capitol Hill on the semi-annual update on the economic outlook. Key Quotes “Not too long ago, Powell gave an unequivocally upbeat view on the state of the US economy and its prospects. But with an appreciable escalation in global trade relationships, markets will be attuned to whether he sheds more caution.” “With G7FX vol relatively muted compared to its EM counterparts, concern from the horse’s mouth may finally shake some USD long positioning. This could take place in the context of established ranges however, but we would refrain from attempting to chase a breakout at this time despite some HFFV discounts (like JPY, EUR and GBP), as the combination of a summer lull and carry costs are hurdles to strap on extended USD shorts.” “A defensive stance on the dollar bloc remains appropriate still, as trade concerns and risks to the growth outlook may outweigh a tactical USD move for these small open economies.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Technical Analysis: Gold breaking to fresh 2018 low near $1,230/oz FX Street 5 years Analysts at TD Securities suggest that it's showtime for Fed Chair Powell, who will be testifying on Capitol Hill on the semi-annual update on the economic outlook. Key Quotes "Not too long ago, Powell gave an unequivocally upbeat view on the state of the US economy and its prospects. But with an appreciable escalation in global trade relationships, markets will be attuned to whether he sheds more caution." "With G7FX vol relatively muted compared to its EM counterparts, concern from the horse's mouth may finally shake some USD long positioning. This could take place in the context of established ranges… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
