- August 23, 2019
- Posted by: Trading
- Category: Alerts
Jackson Hole Talking Points:
- Fed Chair Jerome Powell’s speech behind closed doors at the Jackson Hole Economic Policy Symposium has neither surprised nor disappointed market participants.
- In saying “we will act as appropriate to sustain the expansion,” Fed Chair Powell has more or less confirmed that markets are correct in anticipating another rate cut in September.
- The US Dollar declined slightly after Fed Chair Powell’s remarks, with US equities rallying and gold prices falling back slightly.
Note to follow…
US Dollar (DXY Index) Technical Analysis: 1-minute Price Chart (August 23, 2019 Intraday) (Chart 1)
Following the release of Fed Chair Powell’s pre-scheduled remarks, the DXY Index initially gained ground from 98.32 to as high as 98.37 thereafter. However, at the time this report was written, the DXY Index was trading slightly lower, at 98.24. Needless to say, market participants are neither surprised nor disappointed with Fed Chair Powell – as was anticipated in the Jackson Hole preview.
FX TRADING RESOURCES
Whether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading.
— Written by Christopher Vecchio, CFA, Senior Currency Strategist
To contact Christopher Vecchio, e-mail firstname.lastname@example.org
Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX