The recovery of the US dollar will not last long Overview on 11.01.2019

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The Eurodollar rebounded on Friday. The current price of the pair is 1.1520. The effect of the FOMC's comments was short-lived.

Yesterday, the US currency got a chance to correct thanks to the comments of US Federal Reserve Chairman Jerome Powell , who said that the government shutdown raises a lot of concerns. According to estimates Powell If the crisis persists, there may be negative consequences for the country's economy.

Apart from other things, he has drawn Powell Attention to the US budget deficit, which is rapidly increasing and is now estimated at $1 trillion with a total national debt of $21-22 trillion. Sooner or later this issue has to be resolved and the Fed seems to be already concerned about it.

In response to questions at the Washington Economic Club, he spoke Powell About the Fed's strategy to reduce the volume of assets on its balance sheet. The current volume is estimated at 4 trillion US dollars, while the pre-crisis volume was about 1 trillion US dollars. The Fed will continue to sell its assets, but this number is unlikely to fall to the last reading.

Today's economic calendar may be interesting to those interested in the United States. The country is due to report on its consumer price index in December, which is expected to lose -0.1% on a monthly basis. Core CPI, in turn, may continue to improve, at 0.2% per month.

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