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The focus of the week is on the Kansas City Fed’s Jackson Hole symposium beginning on Thursday evening. Key financial officials of major economies would be speaking with ECB President Mario Draghi due to speak on Thursday and Fed Chair Janet Yellen on Friday.

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Jackson Hole Symposium in Focus; Brexit Again in Driver’s Seat

Industrial metals rose across the board with zinc the best performer. Tighter supply outlook is boosting the price with LME’s 3-month forward soaring to a decade high and settled +7.85% higher for the week. Against the tide was iron ore price which retreated after gaining almost +20% over the past 5 weeks. While still no reflected in the market…

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Weekly Fundamentals – Zinc Rallied on tighter Supply Outlook; Iron Ore Prices to Retreat Further in Coming Months

10:00am USDPrelim UoM Consumer Sentiment USDPrelim UoM Inflation Expectations 10:15am USDFOMC Member Kaplan Speaks 1:30pm USDRig count Statistics: Posted by Bon — Fri Aug 18, 2017 4:39 am

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Daily News Events • August 18

Renewed concerns over terrorist attack weighed on sentiment, adding to diminishing hopes that any measure would be implemented to boost US economic growth in the near term. At least 13 dead and 100 injured in Barcelona van attack claimed by ISIS, intensifying its calls for massacres in Europe using vehicles. Stock markets fell. Wall Street plunged with DJIA losing -1.1% and S&P 500 down -1.5%.

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Investors Turned to Safe Havens Again after Barcelona Terror Attack and Trump’s Abandonment of Infrastructural Council

8:30am CADManufacturing Sales m/m USDUnemployment Claims USDPhilly Fed Manufacturing Index 9:15am USDCapacity Utilization Rate USDIndustrial Production m/m 10:00am USDCB Leading Index m/m 10:30am USDNatural Gas Storage Forecast 47B Previous 28B 12:30pm USDFOMC Member Kaplan Speaks Statistics: Posted by Bon — Thu Aug 17, 2017 6:06 am

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Daily News Events • August 17

US dollar and Treasuries were pressured, driven by the July FOMC minutes and political drama in the White House. After initially jumping to a two-day high after the release of the minutes, the DXY index reversed the gains and the day -0.33% lower. Treasury prices strengthened, sending 2-year yields -3 points lower to 1.33% and 10-year yields -5 points to 2.23%. In the commodity sector, crude oil prices continued to fall, despite huge decline in inventory and weakness in US dollar. The increase in US production was weighing on prices.

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US Dollar Fell as Inflation Likely Stays Low for Longer. Unpopular Trump Might Further Delay Fiscal Stimulus

Value Area CL:: 47.52 / 47.20 Value Area ES:: 2465.75 / 2462.25 8:30am CADForeign Securities Purchases USDBuilding Permits USDHousing Starts 10:30am USDCrude Oil Inventories Forecast -3.0M Previous -6.5M API -9.2m 2:00pm USDFOMC Meeting Minutes Statistics: Posted by Bon — Wed Aug 16, 2017 2:46 am

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Daily News Events • August 16

Strong economic indicators and easing geopolitical tensions kept US dollar firm, lifting the DXY index for a second consecutive day. Indeed, the greenback was higher against major currencies and were particularly strong against British pound (+1.02%) and Japanese yen (+0.9%), of which the weakness was driven by improving risk appetite.

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Oil Prices Range-Bounded as Torn Between Inventory Draw and Firm USD

Value Area CL:: 48.96 / 47.86 Value Area ES:: 2465.00 / 2461.00 All Day EURFrench Bank Holiday EURItalian Bank Holiday 8:30am USDCore Retail Sales m/m USDRetail Sales m/m USDEmpire State Manufacturing Index USDImport Prices m/m 9:30am GBPCB Leading Index m/m 10:00am USDBusiness Inventories m/m USDNAHB Housing Market Index 4:00pm USDTIC Long-Term Purchases 4:35pm USDAPI Stock Statistics: Posted by Bon — Tue Aug 15, 2017 4:07 am

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Daily News Events • August 15

Market sentiment improved as the perceived threat of war between North Korea and the US cooled down. Better risk appetite was exemplified in the retreat in Swiss franc and Japanese yen, as well as a lift in risky assets. The franc pared most of the gains made over the past week, losing 0.7-0.8% against US dollar and the euro.

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Risk Appetite Improved as Geopolitical Tensions Cooled