Trump to Inaugurate Warsh as Fed Chair on Friday

The news that Trump may appoint a new Fed chair could create uncertainty in the markets. GOOGL shares have fallen 2.7% in the last 24 hours, with an RSI of 43.6 indicating weak momentum. The MACD is below the signal line and negative, suggesting short-term momentum is weak. The price is trading below the 20-day SMA, supporting a bearish trend. However, since it is not in oversold territory, the decline may be limited.

The DXY is trading sideways at 99.23, with the RSI at 49.6 in neutral territory. The MACD remains below the signal line, indicating weak short-term momentum. The convergence of the 20- and 50-day moving averages confirms that the market is searching for direction. Trump's appointment of Warsh as Fed chair may be a widely anticipated move and is unlikely to cause a major surprise in the near term. Therefore, the DXY is expected to continue trading within its current narrow range.

The news involves the appointment of Kevin Warsh, perceived as market-friendly, to the Fed chairmanship, which could create a positive atmosphere in the short term. Technical indicators also support this view: the RSI is at 59, in neutral territory, the MACD is above the signal line, and the price is trading above both the 20-day and 50-day moving averages. However, due to uncertainties and the possibility that the market has already priced in the news, the bullish expectation is expressed with moderate confidence.