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  • US Dollar Price Action: USD Bears Whiplashed by Dollar Reversal

    From dailyfx.com

    Well, its 2020 and Day One of Jackson Hole has so far not disappointed, staying on theme with the craziness that has become this year. The Fed announced a potentially major change this morning when Chair Powell announced a strategy shift at the bank. While the Fed has been one of the notable Central Banks employing a dual mandate, targeting both inflation and employment, more recently we’ve seen the bank’s grasp expand to include items like income inequality and even global warming. But today they announced what appears to be a prioritization in the dual mandate that they’re charged to defend, by announcing ... (full story)

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We all saw it and indeed some of us lost good money (the action was too fast and sudden for me at least). But then I see this and I feel insulted. Why? There must be another way to report things that traders felt as losses and especially not in glib language as if the writer "knows all about it". The writer like all analysts had not a clue this was going to happen as he has no way of telling the future and would in no sense be better than the average trader. So without a "technical" means of reading the market ahead and given that clearly it cost him nothing, he could have at least reported the event (that is all he has done actually) without upsetting the sensibilities of traders who may have sour memories of the event. A 6000 point move in a few minutes is not a simple trading event.

The Crow (-_-0
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    From @LiveSquawk|Aug 27, 2020|3 comments

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    Kaplan: Moderate overshoot on inflation probably means 2.25% or 2.5%

    From @DeItaOne|Aug 27, 2020|1 comment

    tweet at 1:13pm: FED'S KAPLAN SAYS MODERATE OVERSHOOT ON INFLATION PROBABLY MEANS 2.25% OR 2.5% tweet at 1:14pm: Dallas Fed's Kaplan/CNBC: Now realize full employment can be much lower unemp rate and may be able "to run hotter" to include underrepresented groups in a stronger labor force. #Kaplan #jobs #federalreserve @anthonymace tweet at 1:14pm: On CNBC, Dallas Fed Kaplan says new inflation approach not formulaic or commitment, is an "articulation" of existing policy actions, and would only accept overshoot of 2.25% to 2.5%. tweet at 1:15pm: Dallas Fed's Kaplan/CNBC: Wise not to assume "the future is going to look like the (low inflation) past." #Kaplan #inflation #federalreserve @anthonymace tweet at 1:20pm: KAPLAN: MARKETS NEED TO UNDERSTAND FED EMERGENCY EFFORTS WILL END

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