👀 All eyes are on Jerome Powell's speech today.
With the US dollar recently weakening and the probability of interest rates remaining unchanged exceeding 97%, the market is eagerly awaiting Federal Reserve Chair Jerome Powell's remarks, as they could provide crucial signals for the markets. 📊
💵 Why is a weak dollar important?
A weaker dollar helps to:
1️⃣ Ease financial pressures (and paves the way for an interest rate cut)
2️⃣ Boost nominal GDP growth
3️⃣ Support asset prices
4️⃣ Increase US exports and reduce the trade deficit
5️⃣ Make servicing the US government's debt easier
SOMI
0.3019
+15.31%
FRAX
0.8472
-9.32%
JTO
0.3925
+2.74%