By Chris Becker
So there it is, Fed Chair Janet Yellen hawks up at Jackson Hole, Wyoming conference with another rate hike basically priced in for September. This sent the USD soaring against the majors, with Aussie dollar caned through 75 cents and Yen sold off as well, which should support the Nikkei on the open this morning. Commodities were effectively unmoved with stock markets also not reacting as savagely as expected with US bourses down slightly and European markets up. Oil remained above $47USD per barrel on continued speculation of oil production freezes.
As usual for Monday, I’ll take a step back and look at weekly/daily charts for a bigger picture going into the Trading Week.