Jackson Hole symposium to guide markets

Important news for the day

• Fri, 22nd, 16:00 CET        US        Jackson Hole / Powell speech.
• Sat, 23rd            US        Gov Bailey speech / gov Ueda speech.

Trump policies

According to several sources Trump's investments remind people of the Watergate scandal back then when President Nixon had to leave Oval Office due to a court ruling. President Trump did also make countless investments, which will have significant impact of his current policies. Looking at shares of Apple or Nvidia for example, Apple has been exempted from paying tariffs on imported chips and semiconductors to the US as the company will invest USD 100 billion in the US. Nvidia will furthermore in the end be able to export their chips to China and face a lower tariff of 15%, which wll be paid to the US government.

Market talk

Due to the strength of the Dollar also most currencies lose momentum against the Greenback. Equities remain in a sideways pattern but show some signs of a potential retracement. The current pattern might get further clarity over the weekend in particular with the symposium in Jackson Hole. Today’s speech of Jerome Powell could also offer fresh insights in general, in particular since it is expected that interest rates will be reduced in September again. US bonds continue to slide as the trust in the Dollar is being eroded. Trump's policies keep adding fuel to the fire in this regards.

Tendencies in the markets

• Equities lower, USD stronger, BTC sideways, ETH positive, oil stronger, Silver sideways, Gold weaker, JPY sideways.