 Good morning to your daily news update from the Frankfurt office of CMC markets Stanley Fisher He's the number two behind Janet Yellen the vice president of the Federal Reserve has said that the Fed or the US economy is actually Right at or near at least the targets the Federal Reserve has set for inflation and employment and in his opinion he's actually very much for Proceeding with the normalization of of monetary policy in the United States and that will be actually the main topic Markets will be focusing on this week. It's the Jackson Hole Central Bank Symposium in the United States, which is going to Start and kick off on Thursday There will be a speech on Friday by Janet Yellen herself. She will have I guess new signals On how the forward guidance on monetary policy in the United States will be there is also Bank of Japan The the president there Kuroda who says that negative rates or at least the media sites him are saying that negative rates could go More into the negative in Japan. So many central bankers and also the Recently very quiet ECB and Mario Trage could send new signals on a Jackson Hole to the markets There has been in the past weeks and that is of note a lot of discussion going on in central bank circles about What to do next because they Realized that what they have done by now Hasn't had a real very positive effect It might have had that positive effect in the United States But it didn't have that very positive effect in Japan and didn't have that very positive effect in the euro zone So it might be that the ECB and Bank of Japan and other central banks Outside of the Federal Reserve are beginning to suggest to go to new ways and I don't know what those new ways will be But we might hear something from Jackson Hole this week. So Marcus will be focusing on that after Stanley Fisher and several Members of the Open Market Committee which decides on rates in the United States have said actually that they are very much for To proceed actually with a normalization of monetary policy. It might be interested to get signals if the September meeting of the Federal Reserve could be a Meeting where they hike rates again would be the second time after the 16th of December of 2015 Second rate hike or if they would only proceed after the US elections, which would come in December or would there be any date? I don't know it might be that at least there might be signals from tenor DL and that she thinks if data is going to come in as expected or better than expected then there could be some sort of Guideline that another rate hike is in the cards this year. So we are focusing on that actually primarily this week Besides that markets and equity markets are in some sort of consolidation after the rally in the past weeks Still at summertime still volumes are below the trend A lot of people are just on the beach and not trading that might change this week and next week So slowly Holiday season is coming off and so volumes are coming back and so pricing Will be getting more interesting again