FED: Trump Selects Miran For Fed Board
President Trump on Truth Social: @realDonaldTrump: "It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026. In the meantime, we will continue to search for a permanent replacement. Stephen has a Ph.D. in Economics from Harvard University, and served with distinction in my First Administration. He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job. Congratulations Stephen!"
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AUDUSD TECHS: Trend Needle Points North
- RES 4: 0.6700 76.4% retracement of the Sep 30 ‘24 - Apr 9 bear leg
- RES 3: 0.6688 High Nov 7 ‘24
- RES 2: 0.6603 High Nov 11 ‘24
- RES 1: 0.6590 High Jul 01
- PRICE: 0.6526 @ 16:46 BST Jul 08
- SUP 1: 0.6486 Low Jul 07
- SUP 2: 0.6472/6373 50-day EMA / Low Jun 23 and a reversal trigger
- SUP 3: 0.6357 Low May 12
- SUP 4: 0.6275 Low Apr 14
The trend set-up in AUDUSD remains bullish and the latest pullback is considered corrective. Recent gains maintain the bullish price sequence of higher highs and higher lows, the definition of an uptrend. Note too that moving average studies remain in a bull-mode position, highlighting a dominant uptrend. Scope is seen for a climb towards 0.6603 next, the Nov 11 2024 high. Initial firm support to watch is 0.6472, the 50-day EMA.
US: Latest Social Media Posts from Pre Trump
- Markets ignoring latest from Pres Trump on his media platform
- TRUMP SAYS 'NOW IS THE TIME' TO CUT INTEREST RATES, Bbg
- TRUMP: CUT INTEREST RATES JEROME, Bbg
MNI: US MAY CONSUMER CREDIT +$5.1B
- MNI: US MAY CONSUMER CREDIT +$5.1B
- US MAY REVOLVING CREDIT -$3.5B
- US MAY NONREVOLVING CREDIT +$8.6B
