The Euro is waiting for news. Overview for 22.11.2017

The main currency pair is quite neutral on Wednesday; much news is going to be published in the evening.

On Wednesday afternoon, the EUR/USD pair is growing, but very slowly. The current quote for the instrument is 1.1760.

The speech delivered yesterday by Janet Yellen, the Chairwoman of the US Federal Reserve, wasn’t very interesting. When speaking at the New York Business School, she said that the regulator would continue raising the key rates. In general, the Federal Reserve got very close to its targets (probably, she was talking about the results of the QE program).

According to Yellen, the low inflation in the country is a temporary phenomenon. In her opinion, prices in the USA will recover in 2018. Yellen paid attention to the fact that other monetary politicians may have different opinions about the inflation, so forecasts on the Consumer Price Index for the next several months may vary.

Basically, Yellen said nothing new. The most remarkable thing was that the last time she spoke as the head of the US regulator. This week, it was officially announced that Janet Yellen was going to resign. She will step aside as soon as Jerome Powell, her successor, takes oath. This event is scheduled for February 2018.

it’s been a long time since the head of the Federal Reserve was the same person for two terms in a row. In case of Yellen, it’s more political than economic. During her tenure, she implemented a lot of complicated monetary tools and did it successfully. It’s all about Trump, who likes to change everything.

RoboForex Analytical Department