Investor confidence was upbeat yesterday at the beginning of the business week. Without a particularly notable catalyst for the risk-on’ environment, this was reflected in continued gains on equities markets from both sides of the Atlantic.
The large number of central bank speakers who attended the Jackson Hole Economic symposium over the weekend did not provide any surprises or significant new information regarding the prospects for monetary policy for the FX majors to consider.
The major FX pairs therefore open this morning similarly to 24 hours ago. This indicates that the dollar has maintained its competitive advantage over the euro and the pound.
Looking ahead to today’s macro data agenda, the US schedule provides most of the releases. House prices from June, job opportunities from July, and the Conference Board’s index of consumer confidence from August are all included.