The President of the ECB and the Chair of the FED are stepping up to the plate today. The Jackson Hole Symposium continues throughout the day with the highlights being those speeches by Christine Lagarde and Jerome Powell. Their rhetoric could either push Pound rates lower or maybe stop the rot and see a turnaround. The Bank of Englands Ben Broadbent gives a speech tomorrow as well.
After the PMI numbers out earlier in the week it's been a tough run for the Pound. As rates were bordering year highs the risk was very much more to the downside which played out. Even the better than expected consumer confidence figure out in the early hours had little effect on the dropping rates.
Other than the symposium it's a quiet day for scheduled news.
Business news centres on the lowering cost of household energy with Ofgem bringing a price cap back in and ongoing industrial action on the rail networks. The latter is expected to play a major role in many of the festivals scheduled for the bank holiday weekend.
US: 15:00 Michigan Consumer Sentiment Index
US: 15:05 FED's Jerome Powell Speech
EUR: 20:00 ECB's Christine Lagarde Speech
UK: Saturday 17:25 BoE's Ben Broadbent Speech
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