Stock Markets Edge Higher Ahead of Central Bank Speeches

Stock markets climbed Friday before a much-anticipated central bankers’ meeting, as traders digested ongoing ructions in Washington.US President Donald Trump on Thursday berated top members of his Republican party, days after threatening to shut down the government and rip up a key trade deal with Canada and Mexico.His ongoing battle with Capitol Hill has fanned fears the tycoon will not be able to push through his promised tax cuts, deregulation and infrastructure spending programme, which many believe would help fire up the US economy.Heads of central banks from around the world are meanwhile descending on Jackson Hole, Wyoming, for their annual symposium Friday, with investors focusing on Federal Reserve boss Janet Yellen and European Central Bank (ECB) head Mario Draghi.Their remarks will be pored over for clues about plans for monetary policy in two of the world’s biggest economies.”With (Other OTC: WWTH – news) announcements expected from both in the coming months, investors will be looking to their speeches at Jackson Hole — a platform used to prepare markets for policy changes by previous Fed Chairs Alan Greenspan and Ben Bernanke — for similar policy signals,” said Oanda senior market analyst Craig Erlam.

Source: Stock markets higher before banker gathering – Yahoo

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.