EUR: No policy talk at Jackson Hole points to stability – ING

Analysts at ING, suggest that market chatter that President Draghi won’t say anything new on the ECB's policy stance during his speech at the Jackson Hole symposium (24-26 August), as well as the lack of key data catalysts in the US and Eurozone, suggest a continuation of range-bound activity in EUR/USD.

Key Quotes

“We look for the broad 1.1630-1.1910 range to hold this week but expect narrower trading in a quiet summer market.”

“August Eurozone PMIs (Wednesday) should remain broadly unchanged, and so should the August German Ifo survey (Friday). With the dollar currently paralysed by domestic politics, we see little reason for EUR/USD to break our expected weekly range in either direction.”