Kevin Warsh Becomes Fed Chairman

The DXY index closed at 98.50800323486328, with a 24-hour change of +0.2207759284612365%. The RSI14 indicator stands at 60.5233719998055, approaching overbought territory. The MACD has crossed above its signal line. The appointment of Kevin Warsh as Fed Chair could lead to tighter monetary policy, potentially boosting the DXY index. However, it should be noted that this news may already be priced in by the markets.

The news that Kevin Warsh, known as market-friendly, could become Fed chair may have a supportive effect on the USD. On the technical indicators, the RSI at 59.5 is in neutral territory, while the MACD is near the signal line and positive, pointing to short-term upside potential. The price is trading above the 20- and 50-day moving averages, confirming the uptrend. However, I believe the upside may be limited due to the market fully pricing in the news and possible profit-taking. Overall, I expect a short-term upward move in USDJPY.

The news announces the appointment of a new Fed chair, but Kevin Warsh's monetary policy stance remains unclear. Technical indicators point to a sideways movement in USDTRY: RSI at 48.5 is in neutral territory, MACD remains below the signal line, and SMA20 is very close to SMA50. Therefore, no clear short-term direction is expected. The market will await the new chair's initial statements and potential policy signals.