S&P 500 (SPX), AUD/USD & Jackson Hole – FinTwit Trends To Watch

Key resistance levels:

  • 0.7289
  • 0.7250
  • 0.7183

Key support levels:

  • 0.7100
  • 0.7053

BORE FEST AT JACKSON HOLE? EMPLOYMENT TAKES THE SPOTLIGHT

The much-awaited Jackson Hole Symposium next week may be a non-event because the Fed is likely to wait for continual positive employment data before relaying more concrete policies and design of the taper. The actual start date of the taper could have minimal impact while the aforementioned sequence is what markets will look to for direction.

The current dot plot shown below is unlikely to change just yet as the focus remains on tapering and not tightening of monetary policy. That being said, higher inflation and persistent positive employment reports may prompt the Fed to alter this view.

CURRENT DOT PLOT CHART

Fed dot plot

Source: Refinitiv

1 2
View single page >> |

Disclaimer: See the full disclosure for DailyFX here.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.