The euro is gaining ground to the dollar during early Wednesday trading, following Janet Yellen’s comments to the senate finance committee in Washington as well as Italian Prime Minister Comte surviving a vote of confidence. Yellen, the Biden nominee for treasury secretary, reaffirmed her belief in the importance of the stimulus package proposed by the incoming administration and the continuation of the Fed’s dovish monetary stance. The combination of these two policies is likely to decrease real interest rates even further, generating conditions conducive to further dollar weakness.
Meanwhile, in Rome the Italian Prime Minister survived the departure of one of his coalition partners, avoiding a political crisis that potentially could have affected the confidence of investors in the single currency. Considering these two scenarios it seems reasonable to expect more dollar weakness ahead.
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.