US Dollar, Gold, and Bitcoin Analysis, Prices, and Charts
- Fed and ECB are confident, but not confident enough yet to start cutting rates.
- Gold continues to rally, Bitcoin primed for another ATH
- US NFPs the next driver of price action.
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In his testimony to the Senate Banking Committee yesterday, Fed Chair Jerome Powell indicated that interest rates could soon be on the way down.
‘If the economy does as expected, we think carefully removing the restrictive stance of policy will begin over the course of the year’, Powell said Thursday.
He added ‘I think we are in the right place…We are waiting to become more confident that inflation is moving sustainably down to 2%. When we do get that confidence, and we’re not far from it, it will be appropriate to begin to dial back the level of restriction so that we don’t drive the economy into recession.’
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