As we near the U.S. session close, all eyes will turn to Jackson Hole, Wyoming. Covered in detail by my colleague Rowan, news out of the Economic Policy Symposium is likely to determine market participation for Friday’s session.

Look Out Below! An Overhead View Of Jackson Hole, Wyoming

Keep Your Powder Dry!

Tomorrow’s session may feature some fireworks, so buckle up and manage open positions accordingly. Times to be extra vigilant:

• 12:00 PM EST   FED chairperson Janet Yellen is scheduled to speak

•  3:00 PM EST   ECB president Mario Draghi is scheduled to speak

Comments from these two individuals can become instant headlines throwing markets into chaos at a moment’s notice. There are many approaches to trading news-driven markets. Selecting one that is best suited for you can be a profitable undertaking.

During this 3 hour block in the middle of Friday’s U.S. session, stay tuned to FX leaders for trade ideas and analysis facing any unforeseen developments.

Greenback In A Holding Pattern

So far, currency traders are proceeding with caution regarding the USD. Session ranges are tight across several of the majors:

• EUR/USD     33 pips

• USD/CAD     41 pips

• NZD/USD     45 pips

• USD/CHF     47 pips

Going into the U.S. session close, most traders are sitting on their hands. With a fresh slate of market-driving events on tap for tomorrow, a great trade may be right around the corner. 

If you are looking for a trade in the meantime, check out FX Leaders' market signals.