MNI BRIEF: Fed's Powell Still Committed To Basel III Endgame

MNI BRIEF: Fed's Hammack Says Rate Hike Not In Base Case

MNI BRIEF: EU's Tusk- States To Consult Wed On Tariff Response

MNI: Fed's Hammack Wants To Hold Rates Steady For Some Time

MNI BRIEF: Brazil's IPCA 4.56% In January As Energy Declines

MNI China Daily Summary: Tuesday, February 11

MNI: US REDBOOK: FEB STORE SALES +5.3% V YR AGO MO

MNI: CANADIAN DEC BUILDING PERMITS +11.0% MOM

US NFIB JAN SMALL BUSINESS INDEX 102.8

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: Powell in Focus, Republican Scrutiny Likely

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • A brief phase of JPY buying has dissipated into the US open, with USD/JPY back above, and anchored to, the Y152.00 level. The general stability of the pair so far today is a decent signal that markets are well-priced for fractious trade tensions ahead, particularly as the EU outlined in detail that they'd respond in unison against the trade levies waged on steel and aluminium exported to the US.
  • EUR is faring well alongside local equity markets, helping EUR/GBP progress back to 0.8350, but the consolidative move is yet to make any headway on last week's highs. This leaves EUR/AUD just above the pullback low, after the cross tested but failed break the 200-dma overnight at 1.6388. Regardless, the cross has printed six consecutive sessions of lower lows and a positive close today would be the first in seven sessions.
  • Powell's appearance in front of the Senate Banking Committee later today, while bipartisan in nature, will be a focus for any Republican scrutiny on the Fed chair, with markets and lawmakers looking to gauge the Fed's potential responses to tariffs, tax actions and the impacts of immigration on US labour market gains.
  • Powell's appearance is set for 1500GMT/1000ET, at which a release of text is expected. For monetary policy specifically, markets will be sensitive around wording for future rate adjustments, particularly if Powell drops a reference to "cautious" on policy ahead.
  • Powell isn't the only central banker set to speak today, with BoE's Bailey, Fed's Hammack, Williams & Bowman and ECB's Schnabel all set to speak.
252 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • A brief phase of JPY buying has dissipated into the US open, with USD/JPY back above, and anchored to, the Y152.00 level. The general stability of the pair so far today is a decent signal that markets are well-priced for fractious trade tensions ahead, particularly as the EU outlined in detail that they'd respond in unison against the trade levies waged on steel and aluminium exported to the US.
  • EUR is faring well alongside local equity markets, helping EUR/GBP progress back to 0.8350, but the consolidative move is yet to make any headway on last week's highs. This leaves EUR/AUD just above the pullback low, after the cross tested but failed break the 200-dma overnight at 1.6388. Regardless, the cross has printed six consecutive sessions of lower lows and a positive close today would be the first in seven sessions.
  • Powell's appearance in front of the Senate Banking Committee later today, while bipartisan in nature, will be a focus for any Republican scrutiny on the Fed chair, with markets and lawmakers looking to gauge the Fed's potential responses to tariffs, tax actions and the impacts of immigration on US labour market gains.
  • Powell's appearance is set for 1500GMT/1000ET, at which a release of text is expected. For monetary policy specifically, markets will be sensitive around wording for future rate adjustments, particularly if Powell drops a reference to "cautious" on policy ahead.
  • Powell isn't the only central banker set to speak today, with BoE's Bailey, Fed's Hammack, Williams & Bowman and ECB's Schnabel all set to speak.