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US stocks rise after Jerome Powell’s speech

US stocks rise after Jerome Powell’s speech and technical outlook on gold look here

US stocks rose as technology stocks rebounded as investors evaluated Jerome Powell’s speech and the dollar stabilized.

Jerome Powell emphasized that if the employment data continues to be strong, higher monetary tightening is expected and added that it will take time for inflation to reach the Fed’s 2% target.

At the beginning of Powell’s speech, the dollar fell, and the US Federal Reserve Chairman appeared to be peaceful. While it ended with tightening, the tightening policy is likely to continue higher.

The Fed’s Monetary Policy Committee is scheduled to meet in March. Bets suggest a quarter-percentage-point hike in interest rates.

US stocks rose, jumping more than 1.5 percent. It rose by 1% and increased by 0.7%.

Jerome Powell said during a seminar at the Economic Club of Washington through directed questions. He said we will need to raise interest rates as the labor market is extraordinarily strong.

According to a report by the Ministry of Labor, employers added 517,000 jobs in January. While unemployment decreased to 3.4%, the lowest level since 1969

.Fed Chairman says there are more rate hikes

Minneapolis Federal Reserve Bank President Neel Kashkari said earlier in the day that the January jobs report illustrates the need for continued interest rate hikes.

It is noteworthy that the Monetary Policy Committee raised the interest rate by a quarter of a percentage point in January, in a range of 4.5% to 4.75%.

The American dollar stabilized, while it declined slightly in trading today, Tuesday, and settled near the level of 1.0720.

and instant erase All its gains are expected to close on a daily reversal candle called the Hammer, as shown on the chart.

gold against the dollar

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