Good Morning Traders!
It is Monday the 21st of August and here is what to look out for today.
Ahead of this week's Jackson Hole symposium, traders were keeping an eye out for any hints from Fed Chair Jerome Powell on the direction that monetary policy might take in the future. The Dollar Index fluctuated between gains and losses, while US Treasuries took a bearish turn. With the possibility of a strike in Australia's liquefied natural gas industry, European natural gas prices increased.
According to a survey conducted by the National Association for Business Economics, people are becoming more optimistic that the Federal Reserve will ensure a gentle landing for the economy.
As the excess cash that American consumers accumulated during the pandemic starts to run out, they are about to face a reckoning. Depending on how they react, it will be possible for the biggest economy in the world to avoid a recession.
11:30 AM ET
US sells $69 bln 3-Month Bills
US sells $62 bln 6-Month Bills