Jackson Hole provides little in the way of monetary policy update

30 August 2017, 01:39 | Andres Norman

What Yellen and Draghi did not say speaks volumes

Janet Yellen chair of Board of Governors of the Federal Reserve System left and Mario Draghi president of the

As reported at 11:26 am (BST) in London, the EUR/USD was trading at $1.1935, a gain of 0.10%; the pair had earlier hit a peak of $1.1966, the highest price since January 2015 while the session low stands at $1.19150/.

French household consumption grew by 0.7% month-on-month in July, alongside 0.5% quarter-on-quarter GDP growth in the euro area's second-largest economy for the three months to June, according to INSEE.

The remarks disappointed some investors who had hoped for hints on the Fed's plans for interest rates, though most analysts had not expected Ms Yellen or Mr Draghi to shed new light on policies.

Yellen did not choose to offer any kind of support to the falling dollar in her speech on Friday and this was a clear signal to the markets to begin their next round of selling in the dollar.

However, Draghi made no mention of monetary policy or the shared currency in his Jackson Hole speech. However, you should not rely on "shock" scenario, as banks take into account the experience of previous generations and carry out their policies fairly gently, said Sergei Kozlovsky.

Whatsmore, the ECB President did not show any concern about the current strong euro, Meier says. It's unclear how bad the damage is to facilities along the state's Gulf Coast but preliminary signs indicate widespread losses, which will have implications for the USA economy and oil and gas prices.

On Wednesday, Building Permit data for July will be released.

The U.S. president has also been taking aim at the Dodd-Frank Act, the 2010 law enacted in response to the financial crisis, which he and congressional Republicans blame for handicapping the U.S. economy. Or on the proposed reduction of the central bank's balance sheet.

Apple to build $1.3 billion data center in Iowa
IEDA director Debi Durham believes the 50 jobs created by Apple are just a small piece of the project's benefit to the state. The city of Waukee approved multi-year property tax abatements and infrastructure improvements totaling $194 million.

Reasons Why You Won't Get Android 8 Oreo On Your Smartphone
Android Oreo comes with a raft of internal improvements, created to boost the performance of existing Google-backed devices. The smartphone will go on sale in India on September 4 via Amazon India, and run on Android 7.1.1 Nougat out of the box.

Thousands of Trump-shaped ecstasy pills seized in Germany
The roughly 5,000 pills packed in a handful of bags had a street value of almost $46,000, according to authorities in Osnabrück . Dutch-made Donald Trump pills have been showing up for some time on the United Kingdom market, according to reports .

Markets now bet that there is a 66% chance the Fed will leave interest rates frozen until 2018.

"We continue to believe that current euro strength expresses exaggerated speculation on European Central Bank monetary policy normalisation, while we still expect a Fed rate hike in December, based on cyclical strength and a recovery in inflation ahead".

Hurricane Harvey has been wreaking havoc in one of the US' most populous cities with floods and storms.

The coming days will see the publication of various key Eurozone and US ecostats, meaning the EUR USD exchange rate could see shifts in direction. Shares in Hannover Re were fell 1.3 per cent and Munich Re 0.9 per cent.

The consumer confidence index climbed to 110.8 in August from 106.9 in the previous month.

In parallel, gold futures for December expiry shot up by 1.12% to $1,330.20/oz. on COMEX as the greenback fell by 0.74% against the Japanese yen to 108.44, which is traditionally seen as a safe haven currency. German and Eurozone unemployment is predicted to stagnate on Thursday, so this could leave the inflation stats as the main influencer.

Since early March 2017, the United States dollar and gold have been tightly interconnected, with the dollar weakening and gold gradually gaining in value.



Other News

Trending Now

German challenger Schulz slams Merkel as aloof as campaign heats up
She added this was also true for other detained Germans whose cases had not garnered as much public attention. Opposition has been particularly staunch in her home region in former communist east Germany.

Chelsea Strike £35m Deal With Arsenal To Sign Alex-Oxlade Chamberlain
Liverpool showed interest for Chamberlain but the player preferred to remain in London. "I want to keep my best players". Intriguingly, the Times report Liverpool plan to plan him in his favourite central or advanced role.

Hillary Clinton coming to Vancouver to promote her upcoming book
In the USA , she will sell seats for much less, with some tickets in Broward, Florida, going for between $50 and $350. Other states on her tour include Pennsylvania, Florida and MI , which were all won by Trump.

CFL team hires former Baylor Football Coach Art Briles
Briles, 61, spent 2008 through 2015 as the coach at Baylor before being fired amid a sexual assault scandal in May of 2016. Briles and Jones will be responsible for improving the CFL's worst offense.

Red Cross volunteers head out to help with Harvey relief
At least two people were dead and 12 or more were injured as a result of the hurricane Sunday morning. To donate to the Red Cross, text the word HARVEY to 90999 to make a $10 donation.

Facebook and Instagram 'crash' for thousands of internet users
Users were unable to login to their accounts while some faced issues with sharing pictures or other posting statuses. Here is a compilation of some of the best tweets to come out of the trending #facebookdown on Twitter this morning.

Ram Rahim verdict: Congress president Sonia Gandhi calls for peace, condemns violence
Tens of thousands of Singh's supporters have gathered outside the courthouse in the town of Panchkula, Haryana , since Thursday. A journalist Ram Chander Chhatrapati had exposed the rapes of two women at Dera headquarters in Sirsa 15 years ago.

US Warns Cancun Travelers of Rise in Homicides at Resorts
In Baja California Sur , which includes Los Cabos , the homicide rate has been on the rise since previous year . This new warning replaces a travel warning that was issued for the country on December 8, 2016.

SNES Classic pre-order sell out has people preparing for the worst
Again , the demand is high and supply is low, so make sure you pre-order your Super NES Classic Edition on Amazon right now! As usual, you'd probably want to head on over and buy it now before it sells out, which usually only takes a few minutes.

Something Final Fantasy XV-related possibly teased for Switch
The regular game, or this mobile version? There's another certain console out there people may be thinking of. It will contain the main characters and story in Final Fantasy XV , told across ten episodes.