September rate move by the Fed has become unlikely – Commerzbank

FXStreet (Córdoba) – Next week, the FX market should be busy weighing up how the major central banks will react to the latest market turmoil. According to Thu Lan Nguyen, analyst at Commerzbank, the main focus will be on the central bank conference in Jackson Hole at the weekend and on the US data.

Key Quotes

“The comments of several FOMC members after the latest market turmoil suggest that a rate move by the Fed in September has become unlikely”.

“In this context, the US data next week is also of substantial interest, especially the US labour market report. Should the data underline a robust economy and a strong labour market, the chances are high that interest rate expectations and thus also the USD will stabilise or even recover further”.

Next week, the FX market should be busy weighing up how the major central banks will react to the latest market turmoil. According to Thu Lan Nguyen, analyst at Commerzbank, the main focus will be on the central bank conference in Jackson Hole at the weekend and on the US data.

(Market News Provided by FXstreet)