Powell to Remain on Fed Board After Chairmanship Ends

DXY is trading at 98.315, down 0.19% in the last 24 hours. Although the RSI at 38.15 is approaching oversold territory, momentum remains weak. The MACD line is below the signal line, confirming a short-term bearish trend. The technical outlook is weak as the price closed below both the 20-day (98.46) and 50-day (98.38) moving averages. While Powell's continued presence at the Fed is not a surprise to the market, the current technical structure is exerting downward pressure.

The news indicates that Fed Chair Powell will remain on the board after his term ends, which has not signaled any unexpected change in monetary policy, thus having no direct impact on the market. On the technical indicators, the RSI is at 52.68, in neutral territory, while the MACD remains just below the signal line, pointing to short-term direction uncertainty. The price is trading near the 20-day SMA (157.65) and above the 50-day SMA (157.30), suggesting a slightly positive medium-term trend. However, the limited 0.26% rise over the past 24 hours and weak momentum in the indicators confirm that no clear direction has been established. Therefore, a sideways movement can be expected in the short term.

USDTRY is trading at 45.2291, showing a very limited change of +0.03% over the past 24 hours. The RSI at 56.27 is in neutral territory, while the MACD is slightly above its signal line, indicating a mildly positive outlook. The 20-day and 50-day moving averages are very close to each other, with the price just above them, confirming a sideways trend. News that Powell will remain at the Fed is unlikely to cause any unexpected shift in monetary policy, so it is not expected to have a significant short-term impact on USDTRY. Therefore, given the current technical picture and the neutral effect of the news, the market is likely to maintain its sideways movement in the near term.

Powell's continued leadership at the Fed could be viewed positively for policy continuity and may reduce uncertainty. Technically, the SPX is trading above its 20- and 50-day moving averages, with the RSI at 63, not yet approaching overbought territory. The MACD line is above the signal line, maintaining upward momentum. In the short term, these developments are expected to provide limited upward support to the index. However, cautious optimism prevails as a stronger catalyst is needed to accelerate the rally.