What is Jackson Hole?
Jackson Hole is a valley between the Teton Mountain Range and the Gros Ventre Range in Wyoming. The term "hole" was used by early trappers or mountain men, who primarily entered the valley from the north and east and had to descend along relatively steep slopes, giving the sensation of entering a hole. These low-lying valleys are surrounded by mountains and contain rivers and streams, which were good habitat for beaverand other fur-bearing animals.
Jackson Hole Economic Symposium
An annual symposium sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyoming, since 1981. The symposium focuses on an important economic issue that faces U.S. and world economies. Participants include prominent central bankers and finance ministers, as well as academic luminaries and leading financial market players from around the world.
The Symposium proceedings are closely followed by market participants, as unexpected remarks emanating from the heavyweights at the Symposium have the potential to affect global stock and currency markets.
So, what's the relation of this on GBP/USD pair?
Simple lang. On August 26, 2016, morning update (PH time), QuantDS FX recommended a SELL STOP for GBP/USD pair despite uptrend.
An easy ride. Coinciding with the economic calendar: "The 2016 Economic Symposium, "Designing Resilient Monetary Policy Frameworks for the Future," will take place Aug. 25-27, 2016. (The program will be available at 6 p.m., MT, Aug. 25, 2016" 🙂
Janet Yellen just said that FED is 'ready‘ for another rate hike, leaving weak GBP and strong USD, diving the Cable the night of August 26, 2016 (PH Time).
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Enjoy pipping with QuantDS FX for a #QuantAmazing experience. Keep posted for the next Market Digits w/ Tata Mich. 🙂
by: Michelle 'Tata Mich' Soriano (QuantDS Creator)
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