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EUR/USD: Powell has the power

The tales that Jerome Powell, Chairman of the Federal Reserve, provides later in the day may prove telling for EUR/USD’s next moves, Yohay Elam, an analyst at NDDFX, reports. 

Key quotes

“Investors will look for clues on negative interest rates from Powell’s Peterson Institute speech as opening the door to even lower rates would send the dollar tumbling down while refusing to endorse such a policy would send it higher.” 

“In the old continent, economies are opening up gradually and trying to address the struggling tourism sector. European Commission President Ursula von der Leyen speech will provide details about coordination across Europe.” 

 

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