Published: 2024-08-23T15:54:46.000Z
Psychology for major markets August 23rd
Senior FX Strategist
5
Powell has hurt USD sentiment.
EUR/USD – Powell has powered USD to further losses across the board on speculation about faster rate cuts than ECB. 1.1275 being eyed.
USD/JPY – Further JPY gains expected in the coming week after Powell and Ueda on Friday. 142 targetted.
EUR/GBP – BOE Bailey suggest no Sep cut and gradual cuts. Mkt targetting 0.8450.
AUD/USD – AUD remains well bid with USD downtrend broadening.
Equities – Powell helps equities, but Nvidia results next week key for U.S. bulls.