Author: FX
Silver extends gains for the third consecutive day, trading around $38.70, up 1.2% on Friday.Fed Chair Powell’s Jackson Hole remarks highlighted rising downside risks to jobs and tariff-driven inflation, reinforcing a cautious but flexible monetary policy stance.Markets interpret remarks as dovish; CME FedWatch shows 90% cut probability in September, up from 70% earlier in the day.Silver (XAG/USD) rallies sharply on Friday, rebounding from an intraday low of $37.70 to trade near $38.70, up around 1.40% on the day. The move came as traders repositioned after Federal Reserve (Fed) Chair Jerome Powell struck a cautious but flexible tone in his Jackson…
Every summer, the mountains of Wyoming become the center of the economic world. The Jackson Hole Symposium, organized by the Federal Reserve Bank of Kansas City, is more than just an academic gathering: it’s the stage on which the major orientations of global monetary policy are sometimes shaped.This year, the spotlight is even more intense. On Friday, Federal Reserve (Fed) Chair Jerome Powell is scheduled to deliver what will probably be his last speech in Jackson Hole as President of the US central bank.A key event for the marketsFor several decades now, Jackson Hole has been the event where central…
The USD is starting the session modestly higher to unchanged, with traders cautious ahead of Fed Chair Powell’s pivotal remarks at the annual Jackson Hole symposium. The U.S. calendar is quiet today, though Canada’s retail sales (8:30 AM ET, expected +1.5% vs. -1.1% prior) will provide some early direction.Markets are on edge for Powell’s guidance as the odds of a September rate cut have slipped to ~71% from near 100% last week. The Fed Chair faces a delicate balancing act: inflation remains sticky (core CPI +3.1% y/y in July), yet labor market signals have softened, giving doves an argument for…
US Federal Reserve (Fed) Chair Jerome Powell said that they will adopt a new policy framework of flexible inflation targeting and eliminate ‘makeup’ strategy for inflation, while delivering a speech on “Economic Outlook and Framework Review” at the annual Jackson Hole Economic Symposium.Powell speech at Jackson Hole Symposium, key takeaways”Framework calls for balanced approach when central bank’s goals in tension.””Prior framework’s emphasis on overly specific set of economic conditions may have led to some confusion.””Framework removes language indicating zero-lower-bound is a defining feature of economy.””New framework designed to work in a range of economic conditions.””Idea of intentionally moderate inflation overshoot…
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Prior +0.4%GDP (non-seasonally adjusted) -0.2% vs 0.0% y/y prelimPrior -0.2%GDP (seasonally adjusted) +0.2% vs +0.4% y/y prelimPrior 0.0%Yikes. The revision lower there makes the Q2 figure look rather poor as both manufacturing and construction seemed to have fared worse than expected initially in the month of June. The quarterly dip in the German economy here matches that seen in Q2 last year and also Q4 2023. One positive at least is that total consumer spending is seen up 0.3% on the quarter but private consumption was only marginally higher (+0.1%), which is softer than what the flash report suggested.The good…
Global flash PMIs painted a generally more optimistic view of business conditions, sparking some risk rallies here and there. Dollar strength still emerged as the dominant theme for the most part of the day, though, with traders busy positioning ahead of Fed head Powell’s Jackson Hole speech. Here’s how major asset classes performed in the latest trading sessions. Headlines: New Zealand Balance of Trade for July 2025: -0.58B (0.1B forecast; 0.14B previous) New Zealand Exports for July 2025: 6.71B (6.7B forecast; 6.63B previous) New Zealand Imports for July 2025: 7.28B (6.1B forecast; 6.49B previous) New Zealand Credit Card Spending for…
GBP/USD steadies as traders adopt caution ahead of Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium.The preliminary S&P Global US Composite PMI inched higher to 55.4 in August, from 55.1 prior.The UK GfK Consumer Confidence improved to -17 in August from -19 in July.GBP/USD moves little after four days of losses, trading around 1.3410 during the Asian hours on Friday. The pair faced challenges as the US Dollar (USD) gained ground following the key economic data from the United States (US) released on Thursday. Traders await Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium in Wyoming…
South Korea's Lee says plans record $25 billion govt spending on research in 2026 Source link
The Japanese Yen struggles to lure buyers despite slightly higher-than-expected inflation figures.The uncertainty over the likely timing of the next BoJ rate hike continues to undermine the JPY.The USD bulls retain control ahead of Fed Chair Powell’s speech and support the USD/JPY pair.The Japanese Yen (JPY) continues losing ground against a broadly firmer US Dollar (USD) for the second straight day and drops to a three-week low during the Asian session on Friday. The uncertainty over the likely timing of the next interest rate hike by the Bank of Japan (BoJ) continues to undermine the JPY, which fails to gain…