The DAX Boosted, Jerome Powell’s Outlook Ahead

Forex News

DAX has risen 0.40% to trade at 12,533.00. Today marks the speech from the European Central Bank President Mario Draghi and tomorrow we’ll hear from the new Fed Chair Jerome Powell as well as from the Bundesbank head Jens Weidmann. Powell will deliver a testimony before the House of Representatives and the Senate and investors are expecting the Chief to give his view on the balance sheet lowering and economic improvement. We’ll also German Preliminary Consumer Price Index tomorrow.

Recently, ECB published the protocol of its last meeting, which hinted that members might consider changing the policy path soon. That, in turn, caused speculations about a rate hike. Exchange rates issue was also addressed. Mario Draghi is worried about EUR/USD’s fluctuation as during the January-February period, the pair increased 2.8%.