New York (dpa-AFX)-The euro expanded its profits on Friday after the central bank boss Jerome Powell’s speech on Friday. The prospect of key interest rates loaded the dollar compared to all important currencies. The community currency overcame the $ 1.17 mark and increased to $ 1.7243.
Advertising
City/USD and other foreign currencies with levers via CFD (Long and short)
Act currency pairs such as EUR/USD with lever at Plus500 and participate in increasing and falling notations.
Plus500: Please note the information5 To this advertising.
Around an hour before the IPO on Wall Street, she still cost $ 1.1729. In the morning she had noted under $ 1.16. The European Central Bank set the reference course in the afternoon in Frankfurt to $ 1.1608 (Thursday: 1.1639).
During his speech in Jackson Hole, Powell opened the door for a key interest rate. Changing risks could adapt the Monetary policy Make it necessary, he said and also referred to the recent weak labor market data. The speech of the FED leader during the central banking conference was more than he expected in the direction of monetary loosening in September, commented US chief economist Matthew Luzzetti from Deutsche Bank.
“Obviously Powell can use one Interest rate At the next meeting in September, “said economist Christoph Balz from Commerzbank. Since the Fed boss wanted to proceed carefully, according to Balz, this speaks for a interest rate reduction by 0.25 percentage points. In December, Commerzbank then expected the second interest rate reduction this year.
However, experts do not consider an interest reduction on September 17th. Economist Elmar Völker from the LBBW sees the Fed in a dilemma: “On the one hand, the signs that the customs policy of the US government will increase inflation in the further course of the year. On the other hand, the worry lines will be lower for July with a view to employment development after the weak US working market report.”