USD: Expecting A Dovish Tone From Fed Powell Testimony And FOMC Minutes – TD

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The Fed is at the center of attention as Chair Jerome Powell testifies and amid the meeting minutes. What’s next?

Here is their view, courtesy of eFXdata:

TD Research expects a dovish tone from this week’s Fed Powell testimony and the FOMC minutes from the June meeting.

“Fed Chair Powell will use his two-day testimony before Congress to reiterate the view that the Fed stands ready to sustain the current economic expansion,”TD notes.

“We expect the minutes to offer more clarity on what would lead the Fed to lend this support after the notable dovish shift at the May meeting. Global uncertainty and subdued inflation should remain key concerns for the Fed,” TD adds.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.