The rise of gasoline prices is falling short as a result of Hurricane Harvey formed an attractive margin for the US refineries. The situation did not fail to take advantage of the largest Oil refinery – Motive Enterprises
The inflation growth is happening due to the devaluation of the dollar over the past few months. This helped the US currency spend a week in the positive area, but the situation with the primary drivers of growth were disappointing.
The S&P 500 index seems to depend only on the positive news while updating records. The Dollar remains in a limbo, as sellers made a halt after a long descent, while the FED situation remains very uncertain.
The Dollar is back on growth track. But for how long?
It is unlikely that growth of new short positions will happen before the Friday’s inflation data. The decline in global risks has prompted investors to take interest in risky assets, forcing part of open sales to be closed against the Dollar.
The FED can not bring the inflation back to a comfortable level and investors have realized that the regulator might want the labor market to deliberately overheat in order to understand, where the Phillips curve will work again.
It seems as if the FED head used the Jackson Hole platform for “justification”, speaking in defense of his own post-crisis reforms, free trade, globalization. Take a look at all the main points that were presented at the meeting.