The changes among major currencies are light to start the day, after having seen the dollar slump further yesterday. The overall mood is more tentative now as market players throw caution to the wind awaiting remarks from Fed chair Powell later today. Here’s a snapshot of dollar pairs at the moment:
Yeah, it leaves a lot to be desired amid the narrower ranges and lack of change as we look towards European trading.
Just be mindful that while Powell will be speaking, it will be in a panel discussion on “Central bank independence and the mandate – evolving views”. The discussion topic doesn’t exactly offer up much opportunities to touch on policy so he may not even deliver anything significant today. That said, it’s best to always be prepared just in case.
Looking ahead to the agenda in Europe, it will be a rather bare one so there won’t be much for traders and investors to work with in the coming session. As such, trading sentiment will likely be dictated by the risk mood, if anything else.
1100 GMT – US December NFIB small business optimism index
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.