The Fed's Powell will highlight the events this week when he speaks on Friday at the Jackson Hole Summit at 10 AM ET. The Fed Chair has been quiet since the surprise employment data on August 1. The expectation for a September cut which was 100% (with 6% or so looking for 50 basis point cut) before the inflation data last week is now down to 83%. There isAlthough a Russian meeting is not scheduled, Ukrainian President Zelenskiy (and other European leaders) will meet with Pres Trump in Washington on Monday to discuss potential peace terms, though concerns remain that Trump may pressure him into a settlement favorable to Russia.
The economic calendar is limited with NAHB housing market data to be released at 10 AM with estimate of 34 versus 33 last month. Canada housing starts will be released at a 15 with expectations of 265.0 versus 283.7 last month.
Getting below that level is needed to increase the bearish bias. Note that on Thursday of last week, the price tried to get below the 200 hour moving average but found support against the high of a swing area near 1.16309. If sellers are to take control, they need to stay below the 200 hour moving average the low from last Thursday will be the next target.
Overall the price action is misbehaving. That says to me that the market just does not know which way the market wants to go.
Dow industrial average +14.88 pointsS&P index -4.8 pointsNASDAQ index -33 points
Looking at the US yields are lower with a flatter yield curve:
2-year yield 3.748%, pop -1.1 basis points5-year yield 3.822%, -2.3 basis points.10 year yield 4.298%, -3.0 basis points30 year yield 4.894%, -3.0 basis points This article was written by Greg Michalowski at investinglive.com.Hence then, the article about the usd is little changed to start the new trading day was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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