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Thomson Reuters
Jan 10 - 02:36 PM
EUR/USD - Powell Reiterates Patience But EUR/USD Slips
First appeared on eFXplus on Jan 10 - 01:20 PM
  • Powell reminds mkt Fed has ability to be patient given inflation data
  • Powell says Fed has no preset rate path; can move policy flexibly & quickly
  • He does not give US$ bears anything new, US rates lift a bit, EUR/USD slides
  • Pair extends earlier losses, nears 1.1495 but slide losses steam
  • Powell notes worries on China growth; US$ slips & EUR/USD nears 1.1515 late
  • Fed's "patience" mantra should keep US$ on its heels and buoy EUR/USD
  • Techs are bullish, Jan. RSI rises & bull hammer forms; grinding gains likely

chart: Click here

Source:
Thomson Reuters IFR Markets

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