US Dollar Talking Points:
- The next two days are big as a chorus of Fed speakers are set to offer commentary from the Jackson Hole Economic Symposium. The big item of focus is FOMC[1] Chair Jerome Powell’s scheduled speech on the economic calendar for 10AM ET but, as is usual, any of these Fed speeches can prove market moving given the heavy importance of FOMC policy at the moment. [2]
- Not to be forgotten, political risks are rising again in Italy. The Euro[4] remains in a short-term range but, should USD-strength show as a result of the next two days’ worth of drivers, the bearish theme in EUR/USD[5] may soon be back in play. [3]
- DailyFX Forecasts are published on a variety of markets such as Gold, the US Dollar or the Euro and are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.[6][7][8][9][10][11]
US Dollar Bounces on FOMC Minutes, Awaits Fed-Speak
The US Dollar has pushed right back up to this week’s resistance following the release of yesterday’s FOMC minutes. While it certainly appeared as though those meeting minutes to bring some bearish potential, that didn’t come to pass as the bank was widely looking at last month’s rate cut as a ‘mid cycle adjustment.’ There wasn’t much for assurances of future rate cuts and in response the US Dollar[13] put in a quick bounce from the 98.00 level
