Market Update

The dollar held near two-decade highs against other major currencies on Friday ahead of a widely anticipated speech by Federal Reserve Chairman Jerome Powell at a Jackson Hole symposium. Traders are awaiting indications about the Fed’s monetary tightening plans to curb inflation when Powell speaks at 1400 GMT. The dollar …

European shares rose on Friday as Wall Street’s rally, supported by technology companies overnight, lifted its European peers, but the sentiment was affected by concerns about the pace of interest rate hikes and rising energy costs. The pan-European Stoxx 600 index rose 0.4%, and is heading to end the week …

Gold prices stabilized on Friday despite the precious metal’s trend for a weekly gain, with investors focused largely on the Jackson Hole seminar for clues about the US Federal Reserve’s policy to curb inflation. Spot gold consolidated at $1,757.99 an ounce at 0624 GMT, but rose 0.6 percent so far …

Japanese shares closed slightly higher on Friday, after giving up some of their early gains, as investors awaited a speech by Federal Reserve Chairman Jerome Powell to look for any clues on the pace of US monetary tightening. The Nikkei index closed up by 0.57 percent at 28,641.38 points, after …

The US dollar ended Thursday mixed although there were no significant changes among major pairs. Investors are mildly optimistic as macroeconomic data was positive upbeat but cautious ahead of central banks’ governors, set to speak within the Jackson Hole Economic Symposium.The EUR/USD pair briefly traded above parity but could not …

Noticeably, traders, investors and economists have spent much of this week anticipating Jackson Hole Symposium which has now officially begun. Of course, markets are all waiting for the remarks by Fed Jay Powell which come at 10 o’clock tomorrow morning, Eastern Time. Markets have got some economic data that come …

The USD/CHF pair picks up bids to refresh intraday high, adds to the second consecutive weekly gain. Cautious optimism drove US dollar downwards ahead of the latest rebound amid pre-data as well as Jackson Hole event anxiety.A 10-week-old descending trend line and the 100-DMA, respectively near 0.9650 and 0.9665, restrict …

Adrian Orr, the governor of the Reserve Bank of New Zealand has stated that he thinks there will be at least another couple of rate hikes. This is being reported by Bloomberg TV covering Jackson Hole. Federal Reserve chair Jerome Powell’s speech is going to be key, but the bears …

The second estimate of Q2 GDP showed the US economy contracted at a slower-than-expected rate of 0.6%. Upward revisions to underlying demand and a first read from the income side weakens the argument that the economy is currently in recession. The US economy contracted at a 0.6% annualized rate in …

US Treasury yields slid on Thursday after hitting multi-week highs the previous session, as investors balanced their positions amid uncertainty as to what Federal Reserve Chair Jerome Powell might say when he speaks on Friday at a global central bank conference in Jackson Hole.The bond market expects Powell to stick …