Session Recap: Majors steady, all eyes on Yellen

By FXstreet.com | Updated August 22, 2014 AAA

FXStreet (Córdoba) - It has been a fairly quiet and uneventful European session in cautious markets ahead of the long-awaited Jackson Hole Symposium, as Fed Chair Yellen and ECB President Draghi will speak later today.

The USD trades a tad softer against majors competitors as investors await for any signals about the timing of US first rate hike. The EUR/USD however, fell short of regaining the 1.3300 level and erased intraday gains. Elsewhere majors are mostly flat, and commodity currencies are mixed. While the AUD and the NZD have managed to recover ground, the CAD remains under pressure.

European stocks turned modestly lower after a flat opening, while US futures point to a lower opening. Trading is expected to remain subdued until 14:00GMT when Yellen is scheduled to speak.

Main Headlines in Europe:

Jackson Hole takes centre stage – Danske Bank

Gold off 2-month lows, Jackson Hole eyed

European stocks little changed as Jackson Hole takes center stage

Risk sentiment in ‘wait-and-see’ ahead of Jackson Hole – Danske Bank

What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank

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