On Wednesday morning, the major currency pair is trading a bit downwards; investors are waiting for the news.
EURUSD is slowly falling in the middle of the week. The current quote for the instrument is 1.1463.
There weren’t any significant statistics for EURUSD over the last couple of days, that’s why investors paid attention to other drivers. For example, yesterday the US President Donald Trump once again criticized the Federal Reserve Chairman Jerome Powell. Trump said that he might even regret appointing Powell to this position. According to the US President, every time something “big and important” was happening to the country’s economy, Powell increased the key interest rate, thus making himself look as if he was “happy”.
It was not the first time Trump blamed Powell for the current monetary policy, although Powell had been assigned to his position by Trump himself. In fact, Powell is a successor of the monetary policy that was created and pursued by Janet Yellen. When appointing Powell to the Federal Reserve Chairman position, Trump knew perfectly that there wouldn’t be any other ways and scenarios for the country’s economy and the regulator. And now the White House believes Powell is a perfect political player to take responsibilities for everything.
This is the reason why investors didn’t pay much attention to what Trump had said. Whether Trump is happy with Powell or not, it won’t change the Federal Reserve’s monetary policy: as was clearly stated, the regulator is going to increase the key rate for the fourth time this year.
Orgin: RoboForex
