What you need to know on Wednesday, August 21:
Optimisms cooled as President Trump has said that he is not ready for trade talks. He said that a recession is unlikely and reiterated his demand for rate cuts.
In its previous meeting, Federal Reserve, cuts interest rate but stressed that it is not the beginning of a loosening cycle. Investors seek signs about the next meeting in September. Federal Reserve Chair Jerome Powell will speak in Jackson Hole on Friday. Head of San Francisco Fed Mary Daly has expressed optimism about US economy.
Pound has gained after German Chancellor Angela Merkel said that practical solutions must be found on the issue of Irish backstop. Hopes for compromise.
Canadian dollar has raised, with stabilization of oil prices and ahead of inflation report.
Cryptocurrencies declined and Bitcoin nears $10000 again.