The major event this week is the annual Jackson Hole economic policy symposium which will hold August 25th-August 27th, 2016, with the theme "Designing Resilient Monetary Policy Frameworks for the future". Many investors would be watching out for the Federal Reserve (FED) Chair, Janet Yellen's speech on Friday, 26th to have a clearer indication of FED's policy moves.
FED's Vice Chair, Stanley Fisher gave a hawkish speech in Colorado on Sunday saying that the Federal Reserve is close to hitting its target for US employment and 2% inflation. He added that "job growth had been remarkably resilient" and that inflation outside food and energy prices was "within hailing distance of 2%" which is the target of FED. The dollar rallied upon these comments. USDJPY hit a peak of 100.92 earlier today and has pulled back around 100.27, Friday's close.
The markets might continue to trade sideways until FED's Chair Janet Yellen delivers her speech on Friday, August 26th. Her speech might give hints on the timing of FED rate hike. Participants at Jackson Hole, Wyoming includes Central bankers from many countries, economists and financial experts.
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