Today’s Key Market Drivers – 21st August 2017
Donald Trump confirmed on Friday the sacking of key White House advisor Stephen Bannon that once again gave traders reason to question the Trump administrations ability to get its policy agenda moving forward. Thursday’s negative market tones weren’t reversed on Friday with currency markets continuing their longer-term trends of selling the US Dollar and buying the Euro although the Commodity Futures and Trading commission did say selling of the US Dollar was a little less. Canadian CPI beat market estimates on Friday, which helped boost the Caddie and saw TIA unfortunately taken out of the long AUD v CAD position. The Pound against the Yen fell to exactly the 61.8% FIB expansion level and TIA has now sold 90% of the volume and is now looking for a larger move lower to June’s lows of 138.70 to grab some extra cream on the cake.
Following is the economic calendar for the week ahead which shows the annual Jackson Hole Central Bankers Conference that brings together key Central Banking figures as the event that will seek traders attention. Other than the Mexican Central Bank we have no major monetary policy announcements. US Fed Chair Janet Yellen is unlikely to sway from her recent comments about weak inflation when speaking in Jackson Hole and the ECB President last week announced that he would not be delivering a new policy message at Wyoming Central Bankers conference. Both addresses this week could be duds for traders looking for volatility. Expect the unexpected I say.
About the Author: Andrew Barnett
Andrew is a professional trader and successful investor who has a strong focus on education. He is a regular Sky News Money Channel Guest and one of Australia’s most awarded and respected financial experts, and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar. Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account. Andrew, a regular key-note speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).
If you would like to speak to one of our Senior Client Advisors regarding the relative client opportunities offered at LTG GoldRock and how you can follow along with our Professional traders each day in our live trading room please contact us today or you can register for one of our a live coaching and trading webinars by clicking here.