Yesterday’s economic calendar was jam packed with US and German data. Firstly, German Ifo Business Climate failed to meet economists’ consensus, registering a seven-month low of 106.2.
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26/ 08/ 2016
Yellen set to take centre stage at Jackson Hole Symposium
25/ 08/ 2016
Oil falls, Italy earthquake and UK mortgage approvals disappoint
The economic docket was light yesterday, however news was thick and fast. Oil continued to fall after a bump on Tuesday afternoon following reports that Iran may support an OPEC output freeze. The decline in oil continued throughout the day yesterday. We also had some tragic news from Italy, where a 6.2 magnitude quake hit central Italy, causing a vast amount of damage and loss of life.
24/ 08/ 2016
Markets anticipate Yellen’s Jackson Hole speech
The Greenback declined across the board yesterday as investors re-assessed whether the Federal Reserve will raise interest rates this year or next. The Dollar will remain volatile this week as markets anxiously await Federal Reserve Chair Janet Yellen’s comments this Friday at the Jackson Hole symposium. The Dollar capped its biggest two-day gain in a month on Monday as fed fund futures showed traders increased bets for an increase this year to above 50 percent.
23/ 08/ 2016
The Eurozone takes center stage
Federal Reserve Vice Chairman Stanley Fischer attempted to boost the Greenback in a speech in Aspen on Sunday. Fischer said that US economic conditions are close to hitting the central bank’s targets as he gave an upbeat assessment of the US economy. The hawkish comments have added fuel to the fire that a rate rise in the States may still occur this year. Market focus now switches to Fed Chair Janet Yellen who will be speaking at the Jackson Hole symposium on Friday.
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