JPMorgan, Wells Fargo, and Citi are all set to release earnings prior to the New York bell with Saxo Bank head of equity strategy Peter Garnry bullish on trading income, commercial banking, and – Trump permitting, of course – stock markets in general.
Squawk / 26 August 2016 at 21:53 GMT
Managing Director / Technical Research Limited
New Zealand
Traders who logged off after Janet Yellen’s speech today missed all the action when Fed Vice-Chairman Fischer went on CNBC and “interpreted” her remarks as being consistent with two rate hikes this year. The dollar had declined on Yellen’s comments, which concentrated on the medium term picture, but reversed sharply to the upside on Fischer’s. He seems more interested in the short term.

The odds on a September rate hike jumped to 40% (see chart below) and for December to 65%. The stage is now set for next Friday’s jobs report. A number in excess of 200k would bring Sept 20-21 right into focus as a possible game-changer.
Patto Patto
Nice key reversal day on NZDUSD ..............
Max McKegg Max McKegg
Yes indeed, at the upper end of Medium Term Wedge resistance, with the Kiwi having completed an Elliott Wave "Double Three" corrective structure from its .6235 September 2015 low.
AlexF AlexF
Yes and great action on USDJPY could you give yoru thoughts on USDJPY and re entry strategy ?
So glad I closed that NZD long before the speech!
Juhani Huopainen Juhani Huopainen
"Yellen will provide enough guidance that a rate hike in September remains an option, and the implied probability will continue climbing toward the pre-referendum highs of 40%-45%. "


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