HomeContributorsFundamental AnalysisThe Euro Currency Slips Ahead Of Draghi's Speech

The Euro Currency Slips Ahead Of Draghi’s Speech

The US dollar was seen strengthening across the board yesterday. The modest gains come in anticipation of central bank chiefs convening at the Jackson Hole Symposium that is due to start tomorrow.

The economic calendar was light yesterday. Data from Canada showed that retail sales rose 0.1% which was lower than the median forecasts. Previous month’s data was also revised down to show a 0.5% increase. Core retail sales, however, increased 0.7% on the month beating forecasts.

Looking ahead the economic data today will include a speech by ECB President Mario Draghi who will be speaking at an event in Germany. This could be the key event risk for the euro currency today. Later in the day, the Eurozone flash PMI’s will be released for August. In the US flash manufacturing and services PMI from Markit will be coming up, and FOMC voting member Kashkari is scheduled to speak.

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