|GBPUSD Short Signal Update and Fundamentals| SteadyTrade A.I.™

Update from previously posted execution via

The Jackson Hole Economic Symposium, which will take place next week and is expected to include a speech by Jerome Powell, Chairman of the Federal Reserve Bank of New York, will be the main talking point. Market investors will most certainly scrutinize every word he says after the release of the FOMC minutes this week, which gave further support for the impending tapering operation.
However, according to a recent survey conducted by Reuters, the announcement of future tapering should be made only in September, with the first round of tapering to begin only in early next year as a result. Interest rates have an impact on the foreign exchange market because the unwinding of accommodating monetary policy in the United States usually results in a rise in the interest rate, which makes US dollar interest-bearing assets more attractive in the future. Considering the risks and rewards, the safer dollar will generate a greater return (yield) than it did before and may be regarded as more advantageous when contrasted to the higher yielding but riskier South African rand (ZAR).

Even more surprisingly, data on the US personal consumption expenditures (PCE) is released halfway through the symposium, further supporting the notion that any comments about tapering are more likely to be made at the September FOMC meeting, or even later. The unemployment rate will be the only significant piece of ZAR data released next week.