Have a look at our new FX Talk trailer. This podcast gives listeners a global perspective on the foreign exchange market.
-
CA - EN
- Australia - English
- België - Nederlands
- Belgique - Français
- Canada - English
- Česká Republika - Čeština
- Deutschland - Deutsch
- España - Español
- France - Français
- Ελλάδα - Ελληνικά
- Hong Kong - English
- Italia - Italiano
- Luxembourg - English
- Nederland - Nederlands
- Polska - Polski
- Portugal - Português
- România - Română
- Schweiz - Deutsch
- Suisse - Français
- United Arab Emirates - English
- United Kingdom - English
- Hong Kong-Traditional Chinese
Ebury London
100 Victoria Street
London
SW1E 5JL
+44 (0) 20 3872 6670
[email protected]
Ebury.com
FX market awaits Yellen, Draghi speeches at Jackson Hole symposium
- Back to all posts
- Latest
25 August 2017
Senior Market Analyst at Ebury. Providing expert currency analysis so small and mid-sized businesses can effectively navigate international markets.
The major currencies were relatively range bound on Thursday with investors in a cautious mood ahead of today’s highly anticipated Jackson Hole symposium in Wyoming.
As for Yellen, we think she will need to convince the market that an interest rate hike by the Federal Reserve remains on the cards in December. Financial markets have pushed back their expectations for the next hike in the US until 2018, too far out in our view given the US’s strong labour market and solid inflation. Yellen will be speaking at around 17:00 UK time, followed by Draghi at 20:00. Ahead of today’s main event, investors are unlikely to commit to positions either way and the major currencies could remain fairly range bound during London trading.
Prior to today’s conference, Sterling recovered from its lowest level in two months against the US Dollar on Thursday after the latest GDP data confirmed that the UK economy grew by 0.3% in the three months to June. Yesterday’s data showed that Britain’s economy expanded at half the pace than that of the Eurozone in the first half of 2017. The divergence in economic performance between Europe and the UK can be attributed to much of the depreciation in Sterling, which has now seen the currency fall by almost 8% on the Euro this year alone.
Meanwhile, the Euro was little moved throughout much of the day, trading around the 1.18 mark against the Dollar in the absence of any market moving news. Growth data for Spain was revised upwards somewhat to an impressive 0.9% in Q2 from 0.8%. This morning we’ll have the revised GDP data for Germany although, as mentioned earlier, the common currency is likely to remain stuck within a range during the London session ahead of today’s Jackson Hole meet in the US.
Privacy Overview
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_ga_990TKFH9FD | 2 years | This cookie is installed by Google Analytics. |
_gat_gtag_UA_51187572_44 | 1 minute | This cookie is set by Google and is used to distinguish users. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
CONSENT | 16 years 4 months | These cookies are set via embedded youtube-videos. They register anonymous statistical data on for example how many times the video is displayed and what settings are used for playback.No sensitive data is collected unless you log in to your google account, in that case your choices are linked with your account, for example if you click “like” on a video. |
pardot | past | The cookie is set when the visitor is logged in as a Pardot user. |
Cookie | Duration | Description |
---|---|---|
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
yt-remote-connected-devices | never | These cookies are set via embedded youtube-videos. |
yt-remote-device-id | never | These cookies are set via embedded youtube-videos. |
Cookie | Duration | Description |
---|---|---|
_lfa | 2 years | This cookie is set by the provider Leadfeeder. This cookie is used for identifying the IP address of devices visiting the website. The cookie collects information such as IP addresses, time spent on website and page requests for the visits.This collected information is used for retargeting of multiple users routing from the same IP address. |