Jackson Hole Meeting, the annual global central banking conference is coming this in this Thursday 24 Aug till 26 Aug.
Last week, we observed USD become stronger and now EURUSD has broken below 1.09.
US Retails Sales data also appeared to be stronger than expected. The Retail Sales MoM came out as 0.7% while the market is expecting 0.4%. It is also indicating the economy is still hot.
Based on current analysts’ expectations, September FOMC Meeting will have another 0.25% rate hike but the market is unsure whether that will be the last one or if there are more to come.
The upcoming Jackson Hole Meeting will provide more insight into the upcoming plan for US Federal Reserve. Any surprise in the meeting will make EURUSD very volatile and might strongly trend in one direction.
Recommendation
With this outlook, similar to last year, and to be on the safe side, we strongly recommend all Ophiuchus and Limitless EA users to schedule to stop trading for this period starting from 23 Aug till 27 Aug. As the Jackson Hole meeting is till the end of the weekend, it is recommended not to hold any position over the weekend to prevent any surprise from the meeting in the weekend. On 28 Aug morning, we also recommend monitoring the market and trend before you start to enable trading.
Disclaimer – Please note that Limitless Trading is not liable for our recommendation and is not responsible for any loss or profit caused by this recommendation. You should assess your personal circumstances and perform your own research to make decisions for your trading.
