On Wednesday, the Federal Open Market Committee gathers for Chair Janet Yellen’s final meeting on interest rates before her term ends. It's also jobs week in the U.S. and employers are expected to have added more jobs in January than previous months.
US futures fall under pressure, a day after the Dow closed above 23,000 for the first time ever. Though there are no major triggers for this morning’s decline, the finger is being pointed at the softer Chinese economic data and unrest in Spain.
Hawkish rhetoric from the US Federal Reserve and Trump administration tax reform proposal boosted the greenback ahead of a busy week that will be wrapped up by the biggest indicator in the markets the US non farm payrolls.
The Fed’s Yellen and ECB President Draghi will gather for the Jackson Hole economic symposium. Focus will be on Yellen’s speech on financial stability, and will Draghi will provide clarity on ending Euro QE?
The US jobs report missed expectations, weakening the dollar and raising questions about the economy. Other major pairs have fallen due to risk aversion following the geopolitical events around the globe.