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EUR/USD Steady Ahead of Jackson Hole

August 24, 2017 by

EUR/USD was steady today as trading was quiet ahead of the Jackson Hole Symposium. While the meeting starts today, markets’ attention was focused on Friday. That was because Federal Reserve Chair Janet Yellen and European Central Bank Mario Draghi will speak tomorrow. As for today’s economic data in the United States, it was a bit disappointing, with existing home sales falling instead of rising. But that had limited impact on the EUR/USD performance.

Initial jobless claims rose a little from 232k to 234k last week. That is compared to the average forecast of 237k. (Event A on the chart.)

Existing home sales dropped to the seasonally adjusted annual rate of 5.44 million in July from 5.51 million in June. Experts had predicted an increase to 5.55 million. (Event B on the chart.)

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