Next Week Macro Outlook: Powell to Appear Under Intense Pressure
BlockBeats News, July 19th. In the coming week, the PMI data for the manufacturing and services sectors in Europe and the U.S. will provide any signs of the impact of Trump's tariff policies. On the central bank front, the Federal Reserve enters a blackout period ahead of its July meeting, but Fed Chair Powell, who has recently been embroiled in a public relations storm, will make an appearance. Market participants will be holding their breath to see if he responds to Trump's recent attacks. The European Central Bank will announce its latest interest rate decision.
On Tuesday at 20:30, Fed Chair Powell will deliver welcoming remarks at a regulatory conference;
On Thursday at 20:15, the European Central Bank will announce its interest rate decision; at 20:45, ECB President Lagarde will hold a monetary policy press conference;
On Thursday at 20:30, the U.S. will release the initial jobless claims figure for the week ending July 19th.
Reports this week suggested that Trump had discussed the idea of firing Powell with other Republicans. However, he quickly downplayed these discussions, saying it was "highly unlikely" he would dismiss Powell. If Powell insists on defending the Fed's independence, reiterating the need for patience and waiting for more data to show the impact of tariffs, the dollar is likely to extend its recovery.
Nevertheless, it is premature to start discussing a bullish reversal for the dollar. Despite the positive reaction of the global reserve currency to recent tariff-related headlines, if tariffs intensify concerns about an economic downturn, traders may still react as they did in April by selling the dollar.
You may also like

The impossible triangle is simply a pseudo problem

Stablecoins Finally Find Real Returns: On-Chain Reinsurance Re Explained | Interview with Re Founder Karan Saroya

The AI gamble of mining companies: Valuations enter a phase of differentiation, and it's hard to turn the tide

A letter from Alliance to entrepreneurs: Written on the occasion of Cursor selling for 60 billion dollars

Will MicroStrategy fall into a death spiral? What will the macro trend be in the second half of the year?

Blockchain Capital Partner: The Core Secret of Arbitrage

STRC unanchored by 11%, can the perpetual motion machine of Strategy still operate?

Bitcoin Market Analysis 2026: Can BTC Reach $150K by Year-End?

Bitcoin ETF Outflows Hit a Record $4.4 Billion: What Are Traders Doing With Their Cash?

WEEX App Just Got Smarter – New Tabs for Faster Trades & Easy Asset Management

WEEX All-New Search Features: Find, Trade & Earn Faster Than Ever

Morning Report | Illinois signs the strictest digital asset tax law in the U.S.; RWA tokenization market size surpasses $43 billion, institutions accelerate the migration of on-chain assets

Full version of the debut Q&A! Federal Reserve Chairman Waller: Sticking to the 2% inflation target, establishing five special working groups, individual did not submit the dot plot

From Disruptor to Shadow Market: The Crypto Market is Becoming a Colony of Traditional Finance

Dalio's important long article: How to position in the current market environment?

OKX Star analyzes Binance's competitive advantages: when regulation levels the playing field, competition has just begun

New gameplay for participating in initial offerings on cryptocurrency exchanges

