EURUSD is very cautious. Overview for 27.02.2018

On Tuesday morning, the main currency pair is trading neutrally; investors are waiting for Jerome Powell’s speech.

EURUSD is trading a little bit upwards on Tuesday morning, but investors are very cautious. The current quote for the instrument is 1.2328.

There were very few macroeconomic statistics at the beginning of this week; most of the interesting and significant reports will be published at the end. In this light, investors’ attention is focused on Jerome Powell’s speech, the new Chairman of the US Federal Reserve.

He is scheduled to report on the FOMC activity over the last six months and speak about the regulator’s monetary policy. It will be the first speech for Powell as the Chairman, that’s why investors are rather nervous in anticipation of what he might say about the future economic outlook.

One of the most important thing for investors to hear is keeping the current monetary policy, which was developed by Janet Yellen. Among other things is the influence of the inflation and the key rate on the country’s economy.

One shouldn’t exclude a possibility that Powell’s rhetoric may differ from the one Yellen had. In this case, the market may become more volatile for a while, but not for long.  

RoboForex Analytical Department