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By xemarketanalysis August 25, 2017 11:36 am
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    XE Market Analysis: Big Focus on Wyoming for Today

    OVERVIEW

    • Euro is stronger as German business sentiment outperforms expectations.

    • Jackson Hole hots up with Janet Yellen and Mario Draghi on the card for today.

    • Gold soars as markets focus on central bankers.

    HIGHLIGHT

    US durable goods orders knock the Dollar ahead of the Jackson Hole main events.

    US DOLLAR

    The US Dollar is weaker today ahead of the much-anticipated address by FED Chair Janet Yellen. Durable goods orders for July were published at -6.8% month on month, even worse than the -6.0% expected. Accordingly, the Dollar is on the back foot heading into Yellen’s speech.

    BRITISH POUND

    The Pound looks set to end the week lower again as it is lackluster in growth outlook and political uncertainty for the months ahead. The Pound is vulnerable currently to pure speculative flows as speculators have pushed the currency lower at will in the past few months.

    EURO

    The Euro remains as the go to trade as the Dollar and Sterling suffer for their respective reasons. The Euro held firm against the Dollar this morning as the German business climate remains in and around its highs of last month. All eyes are now on the address by Mario Draghi later this afternoon.  

    CANADIAN DOLLAR

    The Loonie has been sidelined as a market participant to sit on their hands in wait. The Jackson Hole symposium hots up today as the main speakers for the event, Mario Draghi, and Janet Yellen, take the stage.

    AUSTRALIAN DOLLAR

    The Aussie Dollar is still being hemmed in by the 80-cent resistance level as the currency has appreciated dramatically since May this year. All eyes are on the interest rate outlook from the RBA.

    FEATURED CURRENCY

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