The main focus this week is on the central bank gather at the end of the week in Jackson Hole. We do not expect much light to be shed on current policy debates either in the US or Europe. The topic at hand “Fostering a Dynamic Global Economy,” lends itself to a broader discussion of structural forces. Draghi champions structural reforms in the EMU, while Yellen has argued in favor of increasing participation, especially women, in the labor market.
- USD/MXN opens NY 17.6805 v 17.6960 Fri close; o/n range 17.7580-17.6805
- Pair up to 17.70 in early NorAm, NAFTA talks uneventful
- Risk sideways, US equities tipped a touch lwr, UST yields down
- USD/MXN supt 17.6805 Mon low, 17.6400 Aug 17 low, 17.6168 lwr 21-d Bolli
- Res 17.7580 Mon high , 17.7747 daily pivot, 17.8775 55-DMA