Jerome Powell. A person who comes into our trading every couple of months and for several days in a row we are waiting to hear what he has to say as he is always stirring up the situation around the greenback and yet we are always waiting to see what he has to say about the future of the currency. And it happened like that yesterday. We can now see that the speech of Powell had a good effect on American currency as it has been climbing up the chart for the last day. And of course that means that virtually all of the other currencies are not doing as great now under the increasing weight of USD.

Last week we feared that interest rates were sure going to be cut for USD as economic data of USA came in the worst in almost 10 years – this of course calls for our concern and our very careful relationship with the greenback. But then Friday came and we saw that unemployment is at the lowest level in 50 years in the country! So, the situation there is not so bad after all. And now when Powell is going to speak for the second day in a row we see that USD is totally safe to trade with. At least for today as there is still a chance that rates are going to be cut, noting that the situation in America is just as unstable as in the rest of the world.

Regardless of the future statements of Powell, we need to use trading signals on every couple and asset in the markets.