Investors Are Expecting a Summit in Jackson Hole

Last week, the main currency pairs showed a variety of trends. The pressure on the US dollar was put by geopolitical risks on the Korean Peninsula and the tense situation in the White House. At the same time, several optimistic reports on the US economy were published. More and more representatives of the Fed believe that it is necessary to reduce assets on the balance sheet in September.

At the moment, the majors are consolidating. This week, the financial markets participants will follow the annual meeting of the Central Bank chairmen, which will be held in Jackson Hole (August 24-26). The main speakers will be the Fed chairman Janet Yellen and the head of the ECB Mario Draghi.

On Friday, August 18, the prices for "black gold" rose by more than 3%. Exxon Mobil, the largest oil refinery (#XOM), suspended its work. The Baker Hughes company reported that the number of existing drilling rigs in the US fell from 768 to 763.

Market Indicators

The main US stock indexes completed the trading session in the negative zone. SPY (SPDR S&P 500 ETF) closed at $242.71 (-0.16%).

The 10-year US government bonds yield has recovered slightly after a significant decline last week. At the moment, the indicator is at the level of 2.20%.

The Economic calendar on 2017.08.21:

Today, the news background is rather calm. The publication of important economic reports is not planned. At 15:30 (GMT+3:00) there will be data on the volume of wholesale sales in Canada.

by JustForex, 2017.08.21

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.