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President Trump’s meeting with Fed Chair Jerome Powell and Treasury Secretary, Steven Mnuchin saw a cautious response from investors.
Trump tweeted that he met with Powell and Mnuchin to discuss monetary policy, trade, and the US dollar. This led to a modest risk-off sentiment in the market. It comes as Trump has been overly critical of Powell’s policies.
ECB Members Express Confidence in Monetary Policy
Amid a lack of any major economic reports, investors turned to the speeches by ECB Members. Chief Economist, Philippe Lane said on Monday that the central bank did not reach the limits of its monetary policy. He said that the central bank had other tools if necessary.
Meanwhile, Vasle, the central bank head of Slovenia said that the ECB’s stimulus was working, noting that growth stabilized in the region.
EURUSD Could Retreat Off the Resistance Level
The euro gained on the back of positive remarks mentioned above and a weaker greenback. Price action is testing the resistance area of 1....
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