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powell deliver shift

Positive US Data Ahead of Jackson Hole Summit 

The US index weakened during Wednesday’s trading closing just below 93.

Durable goods orders rose by 11.2% to $230 billion in July. This was an improvement on the revised June orders of $207 billion.

In addition, data from the CB showed that new home sales increased in July. The Bureau cited low-interest rates for the upbeat figures. 

The focus will shift to today’s Jackson Hole summit. Early reports indicate that Fed Chair Powell will request further stimulus from Washington. He is also expected to commit to low-interest rates until employment and inflation improve.

ECB Cautious Over Future of Low-Interest rates

The euro closed indecisively yesterday. However, it kept its stance above the 1.18 handle.

ECB official Isabel Schnabel warned of an increase in eurozone loan defaults. She also stated that there could be ‘side effects’ if the negative interest rate environment persists for too long.  

Investors Jump on Risk Sentiment

The poun...

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