Investors looking for clues from the Jackson Hole meeting on Friday, USD goes higher

As we move into the middle of the week, investors are looking at the Fed’s annual economic symposium at Jackson Hole. This year the meeting will be held online due to COVID. The US economy is heating up and has actually grown bigger than it was before the COVID. As the Congress is about to send out another round of spending, investors are looking for clues from Fed’s Chair Powell on policy directions. The DXY Index is trading slightly higher at press time, just reaching above the 93-level. Overnight, Wall Street has also closed positively.

On the other hand, the Eurozone will be looking at another major event – the release of the German Ifo Institute’s business climate. Investors will use the figures to estimate Germany’s economic recovery. The futures market in Europe is trading slightly lower today.