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  • Powell to dominate this week

Powell to dominate this week

  • Posted by Jonathan Farrelly
  • Categories News
  • Date July 9, 2019

Asian markets are ending today’s session mixed as the Hang Seng is currently down by 200 points whilst the Nikkei225 has added 15 points.

Jerome Powell will take Centre stage for the next three days, commenting on each of them, either in conference or during testimony. Markets will be looking for any change in stance. Every word will be scrutinized for a slight change in policy and markets will react in concert.

Rate cut hopes have reduced, virtually disappeared for a 50 basis point cut but Powell can turn this sentiment quickly. Personally I think his comments potentially will spook the markets further and possibly signal no rate cut at the end of the month. Preference therefore remains to trade the indices from the short side

Dollar strength continues to heap pressure on both sterling and the euro.

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Jonathan Farrelly

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Trading the financial markets can result in large potential gains, but also in large potential losses. You must be aware of the risks at all times and be willing to accept them in order to trade/invest in the markets Any decisions to place a trade is done so at the sole discretion of the student. Please don’t trade with money you cannot afford to lose. Education or information provided by BIZINTRA or its associates is neither a solicitation nor an offer to Buy/Sell CFD’s, Spot, Futures, options or any other leveraged financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any of our material. The past performance of any trading system or methodology is not necessarily indicative of future results.

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