As last week came to a close, all eyes were on Fed Chairman Powell’s speech at the Jackson Hole Symposium.
Friday will be the main event at Jackson Hole as Fed Chairman Powell delivers a key speech. Despite the Fed minutes indicating July’s rate cut was purely a recalibration and comments from Kansas City Fed President Esther George that the rate cut was not needed, traders are hoping that he will allude to potential easier monetary conditions ahead.
The euro climbed slightly after data released from the eurozone private sector data boosted hopes that a recession could be avoided in the bloc’s economy.
As Wednesday came to a close, it was another chapter in the recent tale of volatility. Tuesday was fairly muted…
In early trading today, the dollar held strong against the euro, which hovered around a two-week low, as slightly higher…
FX was very quiet during Asia and Europe with the only real movement being some profit taking in EUR/GBP after Friday’s big sell-off.
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The US-China trade war rages on as do the protests in Hong Kong. With that comes uncertainty for equities as well as a boost for XAU. Crypto remains largely sidelined, although topside resistance is a concern for major coins as the momentum from the recent rally fades.
The pound has managed to recover today after it plunged to a 10-year low against the euro, reaching €1.0724.
The rate cut in the US has traders confused as to whether it will be ‘one and done’ or if there are more on the way.