February 2, 2023

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A look at the markets after the Powell press conference

1 min read

Dollar moved lower. Rates moved lower. Stocks are little changed

Below are the forex rates after the press conference. Overall the US dollar moved lower, but has seen a little bounce since reaching new low levels. 


  • the GBPUSD moved outside of its 71 PIP trading range above 1.39286. 
  • The USDCHF move down to test its 100 day moving average and 0.90881, and found dip buyers against the level. 
  • The USDCAD continued its fall and trades at the lowest level since 2018
  • The EURUSD moved above its high for the week at 1.21164 but has seen price action above and below that level
  • The AUDUSD moved up to test a swing area starting at 0.7800 and stalled at that level
  • The NZDUSD traded to the highest level since March 18 at 0.72689
Dollar moved lower. Rates moved lower. Stocks are little changed_
US yields turned negative on the day and trades near the lows.
US yields
The Dow remains negative. The S&P is up modestly. The NASDAQ is down modestly at the end of his press conference. Levels were higher but when he said some assets were frothy, stocks turned from positive to negative in the Nasdaq (albeit modestly). 

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