Australia, Canada, and EU Attempt to Steal the Fed Monetary Policy
Fed Chair Jerome Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in US500 since June.
Greenback stands tall after sturdy American jobs underpin Fed tightening plans
On Monday, the US currency was on solid footing after a bigger-than-expected soar in American jobs suggested the Fed would stick with its tightening plans for the rest of 2017.
American job surge soared more than expected in June, while employers added hours for workers, suggesting the major US bank could stick to its plan for its third interest rate lift this year and start reducing its balance sheet notwithstanding sluggish wage hikes and tepid inflation.
Versus the Japanese yen, the greenback soared 0.2% being worth 114.16, having notched a peak of 114.21, which is its loftiest level since May 11.
The dollar index, gauging the greenback versus a currency basket, didn’t change, keeping to 96.012.
On Friday, the Bank of Japan sought to keep Japanese government bond yields close to its policy objective, performing a special market operation and also lifting the size of its regular JGB purchase operations.
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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.
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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.
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As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
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.
