After the first speech by Jerome Powell to Congress this week, the US dollar showed strength again. Thus, the dollar index rose and strengthened above 90.00. During his speech, the new Fed chief expressed his opinion that the labor market situation has improved and positively assessed the situation in the economy. After his remarks investors have increased the likelihood of higher interest rates four times this year.
Against the background of strengthening the dollar, many markets showed a decline. Energy prices fell by around 1% and the price of Brent crude oil fell below US $67 per barrel.
Today will be published a report on US GDP for the IV quarter and a report on crude oil inventories, which will have a negative impact on the oil quotations in connection with the increase.
The cryptocurrency market is relatively stable in the absence of loud statements and reduced volatility.
