US stocks markets traded lower yesterday while USD is still a safe-haven, moving higher with metals and energies ahead of an important Fed Chair Powell speech today, when he may address some important policy key points, regarding inflation and interest rates. Will they stick to current levels, or will they be looking for additional rate hikes, and put the stock market under pressure, now when there is also another risk on the table; a geopolitical one!?
The dollar for now is still the best bet in these uncertain times, with prices making higher swing low when looking at DXY, after breaking out of a channel a few days back so it seems that recovery is still here and likely will extend up to new highs while price trades above the trendline support.
Grega