{"id":41686,"date":"2023-02-07T15:49:00","date_gmt":"2023-02-07T15:49:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=41686"},"modified":"2023-02-09T10:53:16","modified_gmt":"2023-02-09T10:53:16","slug":"market-wrap-market-awaits-powell","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-market-awaits-powell\/","title":{"rendered":"Market Wrap &#8211; Market awaits Powell"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"41686\" class=\"elementor elementor-41686\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-595437b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"595437b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-546ee12\" data-id=\"546ee12\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cd91118 elementor-widget elementor-widget-text-editor\" data-id=\"cd91118\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3WlCxtz\" target=\"_blank\" rel=\"noopener\">Wall Street<\/a> remains in the red as traders are preparing for the US Federal Reserve Chair Jerome Powell\u2019s speech at the Washington Economic Club at around 17:00 GMT today.<\/p><p>Investors are looking for Powell\u2019s to pivot somewhat following a strong jobs report released last Friday that witnessed the US economy adding\u00a0517,00 jobs in January vs. expectations of almost 200,000.<\/p><p>Also, the Unemployment Rate in the United States dived to 3.4% from 3.5%. All-in-all such a tight labour market\u00a0would warrant further tightening by the Fed.<\/p><p>Earlier today, Minneapolis Federal Reserve President Neel Kashkari told CNN Tuesday that the labour market is still too hot and that it makes it harder to bring inflation down\u201d.<\/p><p>Kashkari said &#8220;We may have to hold rates at a higher level for longer,&#8221; Kashkari added and said that he is not forecasting a recession.<\/p><p>Earlier in the day, Kashkari also told CNBC that they are totally committed to getting inflation back to the 2% target.<\/p><p>As the market await Chair Powell CitiFX have said that &#8220;<em>We see hawkish risks from Fed Chair Powell following the payrolls beat on Friday<\/em>.\u201d<\/p><p>And they also noted that &#8220;<em>Overall,\u00a0the FOMC and the data points to the status quo as of the December\u00a0,\u00a0but\u00a0we suspect the next set of data probably point to hawkish risks relative to the base case<\/em>.&#8221;<\/p><p>Bank of Canada Governor Tiff Macklem is also speaking today at around 17:30 GMT. The central bank announced a pause after lifting rates to 4.50%.<\/p><p>Therefore, any dovish hints could pave the way for further upside in the <a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">USDCAD<\/a>, however, much will depend on Powell\u2019s comments also.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Wall Street remains in the red as traders are preparing for the US Federal Reserve Chair Jerome Powell\u2019s speech at the Washington Economic Club at around 17:00 GMT today. Investors are looking for Powell\u2019s to pivot somewhat following a strong jobs report released last Friday that witnessed the US economy adding&nbsp;517,00 jobs in January vs. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":41688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[206,42,43,31],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Market awaits Powell - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-market-awaits-powell\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Market awaits Powell Market Wrap - Market awaits Powell\" \/>\n<meta property=\"og:description\" content=\"Wall Street remains in the red as traders are preparing for the US Federal Reserve Chair Jerome Powell\u2019s speech at the Washington Economic Club at around 17:00 GMT today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-market-awaits-powell\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-07T15:49:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-09T10:53:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/02\/GettyImages-1154893755.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"594\" \/>\n\t<meta property=\"og:image:height\" content=\"396\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Market awaits Powell Market Wrap - Market awaits Powell\" \/>\n<meta name=\"twitter:description\" content=\"Wall Street remains in the red as traders are preparing for the US Federal Reserve Chair Jerome Powell\u2019s speech at the Washington Economic Club at around 17:00 GMT today.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-market-awaits-powell\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-market-awaits-powell\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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