FOMC and GBPUSD: The week in 60 seconds | FXTM | 19/08/2019

FOMC and GBPUSD: The week in 60 seconds | FXTM | 19/08/2019


[Music] Hi folks. Concerns of over slowing global growth are being soothed by stimulus hopes from China and Germany. This optimism is supporting risk sentiment with global equities across the world entering the trading week on a positive note. Trade tensions, brexit uncertainty, action in the bond market will keep flahsing on investors radar, but all eyes would be on FOMC minutes and Jackson Hole this week. With September around the corner much attention will be see if the minutes offer any insight to when the Federal Reserve will cut interest rates this year. In regards to the Jackson Hole, if Powell adopts an aggressively dovish stance and other central bank heads also show a willingness to cut interest rates or even move forward of Quantitative easing (QE), this would be positive for global risk sentiment and may result in stock markets pushing higher. In the currency spotlight this week would be the pound. The GBPUSD remains in a tight range with resistance around 1220 and support aaround 1200. With Brexit uncertainty still the name of the game, Pound weakness should be remain a key theme which should send the GBPUSD back towards 1200 in the medium to longer term. My name is Lukman and this is your weak in 60 seconds.

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