The economic calendar highlights. Tuesday, June 24
Fed Chair Powell Testifies, Jerome Powell speaks to Congress about the US economy, touching on inflation, jobs, and what the Fed might do next with interest rates. His words can sway the dollar, gold, stocks, and indices, since rate expectations shape risk appetite and currency strength.
*US Final GDP q/q & Durable Goods Orders*
Final US GDP and Durable Goods data give key insights into the economy’s health and can move major currency pairs. Strong numbers often boost the dollar by signaling steady growth and lower chances of Fed rate cuts, which tends to push EURUSD and GBPUSD down, and USDJPY up. Weak data may raise hopes of easing, weigh on the dollar, and lift EURUSD and GBPUSD while dragging USDJPY lower as investors turn to safer assets like the yen.
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