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19 Aug 2013
What to look for in the week ahead: focus on Jackson Hole
FXstreet.com (New York) - The week ahead promises a healthy dose of intrigue and volatility in in FX markets, dominated by key macro events in the United States.
USD in focus as September Fed meeting looms
With the calendars counting down to the month of September, the USD continues to be in focus surrounding the QE tapering debate – a trend which figures to grow as the markets approach the Fed meeting. A mounting consensus is a reduction of $10/$15 billion from current the $85 billion on a monthly basis.
In other news, US bond yields at 2-year highs, however the USD/JPY is not reacting bullishly thus far. On this note, most global stocks incurred losses across the board in the week past. A surprise performer over the past week has been the AUD, which mounted notable gains vs. several majors.
On the commodities front, gold and silver continued their ascension, with silver notching a 20% gain over the last eight trading days, culminating in recent highs and bullishness not seen for months.
The main event: Jackson Hole
Lastly, the most critical event of the week figures to be the Jackson Hole symposium. However, one caveat is that none of the really big central bank Governors are in attendance, perhaps mitigating the amount of impact the meeting will likely yield.
USD in focus as September Fed meeting looms
With the calendars counting down to the month of September, the USD continues to be in focus surrounding the QE tapering debate – a trend which figures to grow as the markets approach the Fed meeting. A mounting consensus is a reduction of $10/$15 billion from current the $85 billion on a monthly basis.
In other news, US bond yields at 2-year highs, however the USD/JPY is not reacting bullishly thus far. On this note, most global stocks incurred losses across the board in the week past. A surprise performer over the past week has been the AUD, which mounted notable gains vs. several majors.
On the commodities front, gold and silver continued their ascension, with silver notching a 20% gain over the last eight trading days, culminating in recent highs and bullishness not seen for months.
The main event: Jackson Hole
Lastly, the most critical event of the week figures to be the Jackson Hole symposium. However, one caveat is that none of the really big central bank Governors are in attendance, perhaps mitigating the amount of impact the meeting will likely yield.