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Echoes from Jackson Hole: The Speech Sent Stocks on a Rollercoaster Ride


Significant events to watch:

-CAD (CAD): Canada Interest Rate Decision

-US (USD): U.S. Core PCE Price Index MoM

-JP (JPY): Japan Gross Domestic Product (GDP) QoQ

Canada Interest Rate Decision – Bank of Canada (BOC) governing council members come to a consensus on where to set the rate.Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

The previous data was 5.0% which is same as the forecast. The report is due, Wednesday, September 6, 19:30 GMT

U.S. Core PCE Price Index MoM – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

The previous actual data was 228k while the forecasted data was 235k. The report is due Thursday, September 7, 18:00 GMT

Japan Gross Domestic Product (GDP) QoQ – Gross Domestic Product (GDP) measures the change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

The previous actual data was 1.5% while the forecast was 0.8%. The report is due Friday, September 8, 05:20 GMT.

Risers and Fallers

-Nasdaq  (+3.03%)

-Netflix Inc. (+5.22%)

-Nvidia Corp. (+4.4%)

-Crude oil (+4.85%)

Nasdaq – The Nasdaq increased 3.03% in the last week, closing at 15,488. The Fed held the annual Jackson Hole speech on Friday morning. Powell warned of more upcoming rate hikes, sending the stock market on a volatile run.

Netflix (NASDAQ: NFLX) – Netflix stock surged 5.22% in the last week.  The stock has showed a remarkable performance over the last 6 months, registering 40.9% gains till now.

Nvidia Corp. (NASDAQ: NVDA  – Nvidia’s stock rose 4.4% in the last 5 days, closing at $485 per share on Friday.

Crude Oil (Brent) – Crude oil’s price increased 4.85% during the previous week. Currently, the commodity is trading at $87.68 per barrel.

Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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