U.S. Election Trading Challenge is on Fire!

Jump in now and compete for top cash prizes.

SHARE
this page
FacebookTwitterLinkedInWhatsAppTelegramMessenger

Jackson Hole: Fed is not tapering just yet; US dollar retreats.

  

Last Week Risers & Fallers:

Royal Dutch Shell PLC ADR Class B (NYSE: RDS-B) – Tropical storms in the Mexican Gulf is disrupting supply, shares of RDS-B was up 2.4% Friday.

VISA (NYSE: V) –  Visa’s share price had declined by 5.8% since its earnings report one month ago.

Gold futures – Gold futures were up by $24.30, or 1.4%, to $1819.50 per ounce on Friday. From a technical analysis point, gold is at a resistance level of $1820, at the 200-day moving average. The next key price targets are $1835 to $1840.

EURUSD  – EURUSD reached a high of 1.1801 and closed a few pips below. The US dollar has been weaker after the Fed’s speech during the Jackson Hole symposium. The central bank has not yet given the anticipated timeline for tapering.

Major events to watch:

CANADA (CAD): GDP (QoQ) –  Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and health of the economy. Canada’s last GDP was 5.6% in June, lower than the expected 6.7%. The report is due Tuesday, 31 August at 14:30 GMT+2.

AUSTRALIA (AUD): Retail Sales – Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the leading indicator of consumer spending, which accounts for the majority of overall economic activity. The last number was -2.7%, which was worse than the estimate of -2.3%.

The report is due Friday, 3 September at 03:30 GMT+2.

USA (USD): Nonfarm payroll (NFP) – measures the change of the number of employed people during the previous month; this excludes farmworkers. The last report for July was 943,000 jobs added. This was better than the forecast of 870,000. Traders closely follow NFP. A higher than forecasted data could be bullish for the USD, whereas a lower value means bearish for the USD.  NFP is reported Friday, 3 September at 14:30 GMT+2.


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.

Trading Experience Plus

Previous
Next

Fast & easy account opening

  • Register

    Choose an account type and submit your application

  • Fund

    Fund your account using a wide range of funding methods

  • Trade

    Access 500+ instruments across all asset classes on MT4/MT5

That's it, it's that easy to open a Forex and CFD trading account.
Welcome to the world of trading!
Open Live Account

Contact Us

  • General Enquiries

    We are here to provide you with a successful trading journey from account opening to funding and trading.

    [email protected]
  • Premium Clients

    If you are interested in becoming a premium to unlock your extra services as a high-volume trader or joining Vantage Club, please email us below.

    [email protected]

JOIN COMMUNITY

telegram