The euro is waiting for news from Jackson Hole

22.08.2014
Despite the poor statistics on consumer confidence in the euro area, the main pair is trading slightly higher in anticipation of speeches from Yellen and Draghi in Jackson Hole.

Friday will be an exciting day for the main currency pair, however, the main news stream will only start in the evening. At 15:00 GMT a speech will be made by the head of the Federal Reserve Janet Yellen in Jackson Hole.

It is assumed that the main theme of her speech will be the labour market, but the wording guarantees absolutely nothing: the conversation can go on about anything. Investors are most interested in the question of whether the Fed QE3 program will be reduced further or left at this current minimum while working in support of the national economy - in fact it was discussed in the "minutes" published earlier by the Fed.

Today, the market is waiting for the speech from American Economists on the outflow of capital and the working arrangements of the labour market. A speech by Mario Draghi, head of the European Bank, is scheduled for later, during the politicians’ lunch.

The standard platform in Jackson Hole is used to declare one or other measures of monetary policy - the market is in need of a "catalyst", and it will look for it even where it can not be found.
 
RoboForex Analytical Department

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