Jackson Hole symposium amongst market movers today – Danske Bank

The Jackson Hole symposium started last night under the headline 'Changing Market Structure and Implications for Monetary Policy' and is going to be the key market moving event for today’s session as well, according to analysts at Danske Bank.

Key Quotes

“Fed Governor Jerome Powell will speak today on 'Monetary Policy in a Changing Economy' at 16.00 CEST. We do not expect any change to the recent message from the Fed minutes and his semi-annual testimony in July.”

“The Fed is on a continued track of gradual rate hikes as long as the recovery continues. The market will watch for any comments on the yield curve and risks from the US-China trade war in his speech.”

“On the data front, US durable goods orders will give more input on US investment spending, which will be interesting in order to gauge potential impact of the trade war. So far, the impact has been limited and 80% of US companies in a survey recently said the trade war would not affect their investment plans.”