Trading Video: EURUSD Traders Look to Yellen and Draghi in Jackson Hole
• Despite a dense round of data, Thursday was a period of consolidation before key commentary Friday
• Both leaders of the Fed and ECB are scheduled to speak in Jackson Hole in an otherwise quiet day
• I take partial profits on my top trades of 2014 due to technical and fundamental considerations
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The Dollar's impressive run this week was tempered this past session ahead of the scheduled speech from Fed Chair Yellen Friday. Alternatively, the other stand-out and consistent performance for the week - the swell in risk appetite trends - proved unflappable as the S&P 500 closed a record high for the first time in 20 trading days. Why are these normally juxtaposed benchmarks only now diverging? Moderation ahead of meaningful event risk sees greater reaction from stronger runs like the greenback. With both the Fed's Yellen and ECB's Draghi amongst others on the docket ahead, can we see another development for trend? We look at the market's standings in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.