Markets are also reacting to the news that Donald Trump will have spent only three days in the hospital because of Covid-19. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. EUR/USD bounces from 1.18 after robust German Manufacturing PMI, GBP/USD retreats amid mixed Brexit headlines, XAU/USD's reversal from $1,914 contained at $1,895 support area, Forex Today: Dollar clings to gains after the presidential debate, Bitcoin extends gains, PMIs eyed, WTI hits one-week low at $39.55 after Baker Hughes’ report. There will be a Q&A afterwards. The headlines will cross before the speech Find out what Powell has to say live here: The text will be pre-released and we will have the highlights. The US dollar is holding onto Thursday's recovery, The presidential debate was more civilized than the previous one and post-event opinion polls are awaited. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. UK retail sales beat estimates while PMIs were mixed. It's been another rough day. PMIs and COVID-19 statistics stand out on Friday. Fed Chairman Jerome Powell is due to talk today about the economic outlook and data on trade deficit. Ireland´s Coveney expressed more optimism. Related articles. Fed chair Powell will be testifying in Congress over the next three days His first appearance will be later at 1430 GMT but the speech details have already been released earlier (⬆️). Front-month WTI futures’ reversal from day tops near $41 has extended to one-week lows at $39.55 on Friday after Baker Hughes reported that US oil and gas rigs increased to their highest level since May last week. The Federal Open Market Committee (FOMC) is undergoing a monetary policy meeting and will announce its latest decision today at 18:00 GMT. Please read our privacy policy and legal disclaimer. POTUS yesterday walked up the steps to the terrace of the White House, taking off his mask in a somewhat theatrical gesture, as a way to boast about its quick victory against coronavirus. Information on these pages contains forward-looking statements that involve risks and uncertainties. By Adam Button GBP/USD has retreated from the highs around 1.31 after UK minister Truss reiterated that the UK could leave without a deal. Powell's speech today (June 10th, 2020) will start at 18:30 GMT. This is the fourth consecutive month after two months of contraction and 122 months of growth before that. China announced this morning it would impose tariffs on $75 billion worth of American goods. It also does not guarantee that this information is of a timely nature. Today on the agenda, we have orders from German factories and a speech by Christine Lagarde, the US trade balance and the announcement of the JOLTS employment study. Boeing (BA) was the only Dow component that ended the day in the green. Follow all the Fed updates, analysis, technical levels to watch and more, at the Fed Live Coverage. Don't let it dominate your life”, he said on Twitter, adding that he feels better than he did 20 years ago.However; doctors say he may not be out of the woods yet. Multiple daily strategies running 24/7 and FX expert guidance. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. The market consensus is the Fed to stay on hold and as we get closer to the release time, here are the expectations forecast by the economists and researchers of nine major banks, regarding the upcoming FOMC meeting. The market interest will be in the Projection Materials detailing the Fed’s views on economic growth, prices and policy for the next three years. Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks on the monetary policy outlook at a press conference following the meeting of the Board of Governors. Follow all the Fed updates, analysis, technical levels to watch and more, at the Fed Live Coverage. The Dow fell 600 points, or 2.3%, today with less than half an hour left in the trading day as the market selloff intensified. Upon his return to the White House, he tried to show that luck had nothing to do with his victory over illness. The attention of investors will, once again, be focused on the talks concerning the support plan between the two political camps in the United States. The announcement came after Beijing unveiled a new round of retaliatory tariffs on about $75 billion worth of US goods. Powell's speech today (June 10th, 2020) will start at 18:30 GMT. symposium. While the latest US services PMI figures suggest a general recovery, uncertainties remain, such as the slowdown in growth in US employment, a support plan that is still under negotiation and the resurgence of covid-19 infections could lead to new restrictive measures, as is currently the case in Europe. There will be a Q&A afterwards. Jerome Powell is a Federal Reserve governor. Roger Johnson, president of the National Farmers Union, said President Trump was making things worse for farmers. Investors will scrutinize each of Powell's words for any clues on the state of the economy. Powell's speech today (June 10th, 2020) will start at 18:30 GMT. 3:59 PM ET Fri, 16 Oct 2020. By Adam Button Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. The PMI index for the services sector rose faster than expected from 56.9 to 57.8 in September. President Trump expressed his frustration about the developments, tweeting the US didn’t “need” China and urging American businesses to "immediately start looking for an alternative to China.". The high degree of leverage can work against you as well as for you. But look at the year-to-date performances of three primary indices: Please enable JavaScript for a better experience. Shares of companies sensitive to the trade tensions, such as Apple (AAPL), Intel (INTC) and IBM (IBM), led losers in the Dow. The markets: The Dow dropped more than 700 points after President Trump tweeted about China and the Fed. With two hours left at the end of another long week, US stocks are down about 2%. Our live coverage of China's new round of retaliatory tariffs has ended. Meanwhile, the US dollar has been on a franc decline ahead of the event, undermined by a better perception of risk, FXStreet’s Chief Analyst Valeria Bednarik informs. China threatened another round of tariffs today on $75 billion of US-made goods. The results were largely driven by foreign orders (+6.5% MoM) with strong demand from the euro zone (+14.6% MoM), while domestic orders grew more slowly at +1.7% MoM. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. US stocks finished deep in the red on Friday, falling sharply amid worries about the worsening relationship between the United States and China. Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.

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