Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
US Dollar, S&P 500 Look to PCE, GDP Data After Powell Speech

US Dollar, S&P 500 Look to PCE, GDP Data After Powell Speech

Dimitri Zabelin, Analyst
What's on this page

US Dollar, Fed Chairman Jerome Powell – TALKING POINTS

  • US Dollar, NZD, AUD, S&P 500 steady after Fed Powell’s speech
  • Chairman said central bank will adjust policy if risks materialize
  • Markets eyeing US-China trade talks, US PCE and GDP data next

Learn how to use politicalrisk analysis in your trading strategy !

The US Dollar along with its Australian and New Zealand counterparts remained broadly unchanged after Fed Chairman Jerome Powell delivered his speech in Rhode Island. He reiterated the central bank’s position that policy is appropriate where it is now and unless the outlook materially changes, an adjustment in interest rates is not warranted. One fundamental headwind that could cause the Fed to tilt more dovish is the trade war.

AUD/USD, NZD/USD, S&P 500 Futures, Crude Oil Prices – Daily Chart

Chart showing AUD/USD

AUD/USD chart created using TradingView

Several officials have expressed concern about the US-China trade war and the impact it has had on business confidence and manufacturing. Mr. Powell in particularly has been worried about the Sino-US conflict, claiming it has played a large role in the industrial “recession” the world is experiencing. Going forward, a key concern is preventing the contagion of the manufacturing slowdown from infecting the services sector.

Looking ahead, traders will be waiting for the release of US GDP and Personal Consumption Expenditure (PCE) data. The latter is a well-known favored inflation-gauging tool of the Fed, and as such, it carries significant weight in tilting the scales of policymakers towards more hawkish or dovish inclinations. Ongoing US-China trade talks throughout the week will also be highly scrutinized as the December 15 tariff deadline approaches.


--- Written by Dimitri Zabelin, Jr Currency Analyst for

To contact Dimitri, use the comments section below or @ZabelinDimitri on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.