Good Morning,
- Typically light late summer trading volumes and a scarcity of economic releases meant equity markets once more took their lead from geopolitical events, as fading US-North Korea tensions were countered by the continued focus on the US debt ceiling, which could potentially pitch the Trump administration against Congress.
- There was little new information forthcoming from the Fed conference at Jackson Hole, which saw keynote speeches from the Central Bank heads of the US, Japan, and eurozone. Fed Chair Yellen gave little for investors to chew over whilst ECB President Mario Draghi reiterated the commitment to a slow removal of monetary stimulus. However, the euro currency subsequently hit a two and a half year high versus the US dollar as strong PMI data released last week added to the sentiment that the eurozone economy is on an improving growth trajectory.
Source : Zurich Life Investment News 28th August 2017