Fed Chair Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in the US500 index since June. Most risky assets experienced severe drawdowns, and EURUSD returned to the above-parity area. We explain everything you need to know about the Symposium in this article.
EUR/JPY is on shaky ground
2019-11-11 • Updated
SELL 117.30; TP 115.50; SL 117.70
The euro is fundamentally weak: the recent economic figures from the euro area were quite disappointing. Such weakness has prevented EUR/JPY from getting back above 120.10 (61.8% Fibo retracement of the 2016-2018 advance). The pair formed two doji candlesticks on W1. Although there is a chance that the euro will keep consolidating above the support at 117.50 and make yet another go at 120.00, the break below this support will trigger a bigger selloff. The downside target will be at 115.35 (78.6% Fibo).
Despite a slight decline from its highest levels since 2002, around 109 range, it is just a correction, and the green king, the US dollar, will resume its rally…
What will happen? Federal Reserve Chair Jerome Powell will give a speech during the Jackson Hole Symposium on August 26 at 18:00 GMT+3…
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy