After several days gaining ground to other major currencies, the dollar is trading flat during the early part of Thursday’s session. The greenback’s recent strength resulted from expectations that a larger than previously thought stimulus package, that Joe Biden will seek to deploy once he is sworn in, could force the Fed to anticipate the tapering of its asset purchase program. This prospect drove the 10-year treasury yield above 1% for the first time in months, forcing an increase in demand for the American currency. However, with a speech by Chairman Jerome Powell scheduled for later today, investors are pausing in their quest for dollars and will be paying close attention to the Fed chairman’s words, to try and find clues as to the central bank’s stance on the increased fiscal intervention.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
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© 2019 High Leverage FX - All Rights Reserved.