The Fed Chair’s repeat yesterday of looser for longer policy irrespective of the improving economic outlook has modestly soothed market fears. Mr Powell’s high wire balancing act between acknowledging the upsides ahead while keeping the punchbowl full is seeing bond yields push to new cycle highs with the 10-year US Treasury hitting 1.42%. Next very big resistance stands around 1.43% which is the 2019 low and a major retracement marker of the 2018/2020 decline.
Meanwhile, stocks are mixed after the fun and games yesterday! The tech-heavy Nasdaq was down close to 4% at one point before… Read More:
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