- Risk positive Wednesday despite more poor EZ data, but USD does better on position adjustments
- Not much to look forward to pre-Friday; German consumer confidence, initial claims of some interest.
A mildly positive for risk Wednesday, but which (unusually) saw the dollar firmer on the session. With the key Eurozone data now behind us, the focus is now very much on Ben Bernanke’s Jackson Hole appearance tomorrow. The unusual combinations of market movements yesterday and early today seem likely to be driven by position adjustment/reduction rather than by news or data-driven expressions of investment opinions; and with little of major importance on the data calendar little this is likely to continue over the next 24 hours.
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http://www.easyforexnews.net/wp-content/uploads/2011/08/Daily-FX-Str_Europe_25August2011.pdf
BNP Paribas
Corporate & Investment Banking