Last night the White House announced that Federal Reserve Vice Chairwoman Janet Yellen has been nominated to be next head of Federal Reserve.
Dollar weakness is to be bought: see graph of the DXY going back 1 year and you can see very good technical support at 79.75 area.
Washington has all believing in the power of Greek and Italian stability…What??!!
As we head into the weekend traders are focusing on the today’s economic reports and speculation on next week’s FMOC meeting results.
The U.S. Bureau of Labor Statistics reported that the non-Farm Payroll grew by 169k jobs in August disappointing market expectations of 180k and downward revised NFP for July to 104k.
For the short term the crisis in Syria has been put on the back burner until congress returns from vacation putting the Federal Reserve’s starting point for the start of unwinding its $85 billion stimulus program.
Syria headlines continue push the dollar and yen higher as currency markets focus on a likely military strike on the government of Syria thought to behind the chemical attacks on its citizens.
Today is the day…the Federal Reserve releases its July policy meeting minutes to the markets at 2:30 p.m. EDT today.
With the latest comments from Mario Draghi, President of the European Central Bank along with the ECB leaving rates unchanged the euro remains weak against the U.S. dollar.
Consumer Price Inflation or CPI reports around the world are being reported and early this morning the U.K.