The US Dollar Weakened After the Fed Chairman Speech

Last week, investors' attention was focused on the Jackson Hole summit. The Fed Chairman Janet Yellen did not announce specific plans for the further monetary policy, which triggered aggressive sales of the US currency. On Friday, August 25, the dollar index (#DX) fell by more than 0.5%. Pressure on the US dollar is also put by the Hurricane Harvey aftermath.

The ECB President Mario Draghi, as expected, did not announce changes in the monetary policy at the Jackson Hole conference. He also did not mention the issue of significant strengthening of the euro since the beginning of this year. Participants of the financial markets expect that ECB will report on plans to reduce the financial stimulation program at a meeting in September.

At the moment, prices for "black gold" show a negative trend. Futures for the WTI crude oil are being traded near $47.5 per barrel.

Market Indicators

On Friday, the major US stock indices showed mixed dynamics: #SPY (+0.23%), #DIA (+0.17%), #QQQ (-0.21%).

At the moment, the 10-year US government bonds yield is at the level of 2.17-2.18%.

The economic calendar on 2017.08.28:

The news background is calm today. The publication of important economic reports is not planned. Financial markets in the UK are closed due to the holiday.

by JustForex, 2017.08.28

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.