The dollar carried all before it yesterday as the outlook for Europe’s economy fell. It has reached a new 20-year against the euro and post-pandemic high against sterling.
Stocks around the world fell, especially tech and consumer stocks such as Amazon, Netflix and Tesla.
Later today we will hear US new home sales, which are expected to contract, but not by anywhere close to last month’s 0.8% drop.
We will also hear US central bankers talking at the Jackson Hole Economic Symposium from Thursday, with Jerome Powell’s highly anticipated speech on Friday at 10am local time.
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