Fed Chair Powell on the path for policy
At the Federal Reserve Bank of Kansas City’s Jackson Hole Symposium, Federal Reserve Chair Jay Powell gave a much-anticipated speech titled, Monetary Policy and Price Stability. Chair Powell spoke on the state of the economy, reiterating that “while the latest...
Watch Federal Reserve Chair Jerome Powell speak live at Jackson Hole
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers a speech at the central bank’s annual economic symposium...
Dollar Dips as PCE Inflation Slowed, But Loss Limited So Far
Dollar dips in early US session following lower than expected PCE and core inflation data. But loss is so far limited as traders are holding their bets ahead of Fed Chair Jerome Powell’s speech. Euro, Aussie and Swiss Franc are...
GBPUSD Corrects Higher, But Stays in a Downtrend
GBPUSD traded higher on Friday, after hitting support at 1.1770. The pair has been printing higher lows since August 23, but it is still trading below the downtrend line drawn from the high of August 10, as well as below...
EUR/USD Pair is Consolidating Losses Near the Parity Level
The Euro settled below the key parity level against the US Dollar. The EUR/USD pair is consolidating losses and flirting with the parity level. The pair is currently trading near the 0.9970 level and the 50 hourly simple moving average....
GBPJPY Trades Lower Within Descending Triangle
GBPJPY is heading south, and it has been holding within a descending triangle pattern since June 9. Currently, the price is moving beneath the short-term simple moving averages (SMAs) and is approaching the 160.00 psychological mark, which is the lower...
USDCAD Stuck Below 1.3026 for Another Week
USDCAD could not find enough buyers to sustain Monday’s bullish extension above the flattening 200-weekly simple moving average (SMA) at 1.3026, with the price gearing down to meet support near its 20- and 50-day SMAs at 1.2894 on Thursday. Recall that the...
Dollar Mixed Awaiting Fed Powell, Europeans Staying Soft
The forex markets are generally steady in Asian session today, as traders are still holding their bets ahead of Fed Chair Jerome Powell’s Jackson Hole speech. US stocks staged a rebound overnight, but there was little reaction elsewhere. For the...
Additional China Stimulus Helps Stimulate the Aussie
Earlier today, China announced 19 additional policies to help the economy, worth $146 billion. These policies will primarily support infrastructure projects. After trouble in the housing market and a recent bout of poor data from China, including weak Retail Sales...
US: Second Estimate of Q2 GDP Still Points to Contraction in Economic Growth
The second estimate of second quarter real GDP declined by 0.6% quarter-over-quarter (q/q, annualized). This was a slight upgrade from the -0.9% reported in the advance estimate released last month. The reading came in a touch above the consensus forecast...
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