US Dollar Breaches Big Support, Builds Evening Star on M1

It’s been a pretty active morning so far in the US and the stage is setting up for an interesting NFP release later this week. Jerome Powell offered commentary at 10am ET this morning, and this pushed a weak US Dollar over the ledge to set a fresh two-year-low. A little later in the morning, President-Elect Joe Biden introduced his economic team during a press conference, which includes former FOMC chair Janet Yellen as incoming Treasury Secretary, assuming she passes Senate confirmation. But the Yellen pick was not new ‘news,’ as this was circulating last week to the widespread jubilation across markets. … (full story)

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