Fed Speak: Always like betting on a horse race...
NUGT sold off fairly hard yesterday on volume making a P&F "High Pole Warning"
My bet would be that a bottom was seen in this morning's low opening. TWT
2:30 ET Watch Jerome Powell's press conference Live:
While no major changes are expected out of the Fed's monetary policy statement itself, investors will want to make sure Powell remains as dovish as before during his press conference on Wednesday despite the improving macroeconomic data the U.S. has seen lately. This is why extra attention will be paid to any hints of potential tapering.
"Markets are starting to look for signs of tapering and Powell will surely be asked about the timing," said BBH Global Currency Strategy global head Win Thin. "The latest Bloomberg survey shows growing expectations of Fed tapering in Q4. About 45% of the economists responding expect the Fed to announce tapering in Q4, with 14% seeing an even earlier start in Q3."
Edited by Rogerdodger, 28 April 2021 - 12:58 PM.