Fed Chair Jerome Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in US500 since June.
Aussie declines, Kiwi stands still in late trade
On Monday, the Australian dollar decreased versus its American rival, while the New Zealand dollar was nearly intact because worries over American political tensions seemed to have eased and financial markets were still digesting the recent Barcelona terrorist incident.
The currency pair AUD/USD went down 0.11% being worth 0.7923.
The US dollar revived from losses following the news that senior White House advisor Steven Bannon had been sacked by Donald Trump.
Everlasting uncertainty over the economic agenda of Donald Trump along with doubts that the major US financial institution will deliver a third rate lift in 2017 have fed into the greenback’s recent weakness.
The currency pair NZD/USD was intact being worth 0.7316.
At the same time market participants were still cautious after last Thursday a terrorist attack murdered up to 14 folks and injured about 100 others.
On Sunday, Spanish police was still looking for the terrorist behind the wheel in the recent Barcelona van incident, amid surging signs that members of the militant group boasted connections in Europe.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.