Don’t expect Powell to call the end of tightening! | MarketTalk: What’s up today? | Swissquote

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The US dollar was bid on Tuesday thanks to a rapid selloff in the Japanese yen, after the Bank of Japan (BoJ) announced mini policy loosening steps that didn’t find buyers.
Besides the yen-led boost, the US dollar gained on strong quarterly employment figures. The ADP and JOLTS data are due today, the official jobs data is due Friday.
But before that, the Fed will decide. It will not hike the rates but it will hardly announce the end of its fight against inflation. Be prepared for a hawkish accompanying statement.
Elsewhere, China is not doing brilliant and this week’s economic data in China showed that the Chinese factory sector slipped back into contraction and the Eurozone economies announced gloomy GDP updates, as well. But at least, inflation slowed. The EURUSD fell below 50-DMA.
US crude slipped below its 100-DMA yesterday as buyers became rare on news that Israel’s ground offensive is not as violent as expected. The S&P500 rose on the last day of October but recorded its longest monthly slide since the pandemic.
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