Fed Powell Brought Risk Aversion Back, Dollar Ready for More Upside
In terms of prompting market volatility, Fed Chair Jerome Powell didn’t disappoint. Stocks suffered steep selloff after his Jackson Speech. While Australian Dollar was still at top of the chart, most of its earlier gains evaded on Friday, and looks...
Week ahead: The Last of the “Dog Days of Summer”
Powell ultimately didn’t say anything new, so this week’s price action is likely to shift from a focus on Fedspeak to underlying economic data… Well, that was an ugly end to an otherwise quiet week for risk assets! Equity and...
The Weekly Bottom Line: Powell Stands Firm on Higher Rates
U.S. Highlights Fed Chair Jay Powell’s hawkish remarks at the annual Jackson Hole conference did not sit well with equity markets. The second estimate of Q2 GDP data showed that the economy contracted slightly less, and that GDP grew modestly....
Weekly Economic & Financial Commentary: Powell Delivers Hawkish Message at Jackson Hole
Summary United States: Economy Still Climbing the Mountain The second estimate of Q2 real GDP posted a 0.6% quarterly decline, slightly better than the first-reported 0.7% drop. New home sales fell 12.6% in July, reflecting the ongoing downshift in housing...
Forward Guidance: Canadian GDP Growth Slowing into the Summer
Canadian GDP likely rose in the second quarter—but the trend is unlikely to last. We expect annualized growth jumped to 4.5% from the 3.1% reported in Q1. Spending on services (particularly in the travel and hospitality sectors) surged higher following...
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....