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The US Dollar (USD) saw little movement this week after markets assessed the United States (US) President Donald Trump’s nomination of Kevin Warsh, a former member of the Federal Reserve (Fed) Board of Governors, as the next Fed Chair, and the partial US government shutdown that pushed employment an
💡 DMK Insight
The USD’s stagnation reflects uncertainty around Fed leadership and fiscal policy. With Kevin Warsh’s nomination, traders are weighing potential shifts in monetary policy. Warsh’s past as a Fed governor suggests he might favor a more hawkish stance, which could impact interest rates and the dollar’s strength. However, the ongoing partial government shutdown adds a layer of complexity, as it may hinder economic data releases and create volatility in the forex market. Traders should keep an eye on how these developments influence the USD against major pairs, especially if the shutdown prolongs. Look for key resistance levels around recent highs and watch for any shifts in employment data or Fed commentary. If the government impasse continues, it could lead to increased volatility, particularly in the USD/JPY and EUR/USD pairs. Monitoring the situation closely will be crucial for making informed trading decisions in the coming weeks.
📮 Takeaway
Watch for USD volatility around employment data and Fed comments, especially with Warsh’s nomination potentially signaling a hawkish shift.
