Fed Chair Warsh: We Are Committed to the Inflation Target

The Fed Chair's emphasis on being resolute in achieving the inflation target could weaken expectations for interest rate cuts and create pressure on equities. GOOGL stock is trading below its 20-day moving average (368.83), and the RSI at 44.6 is near the lower end of the neutral zone, indicating short-term weakness. The MACD line is below the signal line and in negative territory, suggesting downward momentum. With technical indicators and news converging, the stock is likely to continue its bearish trend in the near term.

Fed Chairman Warsh's emphasis on his determination regarding the inflation target may reduce expectations for interest rate cuts, thereby supporting the DXY. Technically, although the RSI is approaching the overbought zone at 69.7, the MACD remains positive above the signal line, and the price is above both the 20-day and 50-day moving averages. The upward momentum could continue in the short term, but the RSI entering the overbought zone also brings the risk of a potential correction. Therefore, I have a moderately high confidence expectation for an upward direction.

The news emphasizes the Fed's determination to combat inflation but does not signal any new policy changes. Technical indicators are mixed: RSI is neutral at 50.96, while MACD remains below the signal line. The price is trading below the 20-day SMA (7521) but above the 50-day SMA (7431). This keeps short-term direction uncertain and suggests the market is stabilizing at current levels.