All Eyes on Jacksonhole Central Bank Meeting
Thursday and Friday will see strong actions on the Forex, Stocks and Commodities Markets. Industrial Commodities such as Copper, Aluminum and Nickel have shot up whilst Precious Metals such as Gold edged lower as Investors focus on Jackson Hole and the speeches from the Central Bank Heavyweights starting tomorrow Wednesday.
Tokyo Session rounded up Monday, with the Euro consolidating with a narrow range, as the Yen traded flat against the Dollar. Sterling rose, Australia Dollar held firm, while the New Zealand Dollar traded between a narrow range. Little changed during the London Session, as markets were mostly mixed.
The Wall Street Session however, saw the Euro rise sharply, GBPUSD edged up, and maintained an upward rally until early Tuesday. USDCAD advanced and AUDUSD held around 0.7936 levels.
Trump’s decision to fire Bannon could undermine his support from far-right voters but might ease tensions within the White House and with party leaders. As Treasure Secretary Mnuchin kicks off Tax Reform plan implementation with the Congress, Investors are hopeful. Investors are also are awaiting this week’s meeting at Jackson Hole, Wyoming, between Federal Reserve Chair Janet Yellen and Global Central Bankers. Investors are angling for the slightest hint on where Monetary Policy is headed.
