The US has experienced the Fed's lack of aggressive interest rates in the past week, signaled by both Wednesday's minutes and Jackson Hole's highly-spoken Jerome Powell speech, both coming after President Trump's comments, dissatisfied with the prospect of increases of additional interest. Some macro data, between which durable goods orders were poor, 0.2% vs. 0.5% expected monthly pace. Monday's month brought an IFO mark above expectations from Germany, showing a growing confidence in the local business environment. And ECB chief economist Peter Praet today drew attention to the risk of prolonging the QE program, which has already been 4 years old in providing liquidity to the European system. All these elements contributed to the upward trend of EURUSD, bringing the Euro above $ 1.17 from below 1.14 on August 20.
At 17:00, the Conference Board interrupted the series of unpleasant surprises, indicating that the confidence reference rose to 133.4 points above expectations of a decline to 126.5. EURUSD responded by a negative correction. The dollar does not give impending signs of reversal in the coming days, and the way China's ties will evolve may have a hard-to-say word.
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