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Feb 10 - 09:55 AM

USD: What To Expect From Fed Powell Speech? - MUFG

By eFXdata  —  Feb 10 - 09:10 AM

MUFG Research discusses its expectations for today's speech by Fed Powell  to the Economics Club in New York at 2pm ET.

"The US is showing notable improvements with infection rates and hospital occupancy rates both down markedly...That will inevitably provide justification for Powell to paint a somewhat better picture of the outlook than in previous speeches but the overall message is likely to be still one of caution," MUFG notes. 

"The Fed’s job in avoiding unwarranted moves higher in yields is about to get more difficult and tonight’s speech will need to be carefully balanced between an improving outlook due to COVID and continued caution given the high levels of uncertainty and the long road to achieving its new, higher inflation goal. If Powell is successful, we may see the dollar extend this recent spell of weakness further," MUFG adds. 

 

Source:
MUFG Research/Market Commentary

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