Markets moved quietly ahead of Powell’s Jackson Hole speech, with the AUD and USD posting modest gains while the JPY lagged.
Key moves
- AUD rose on the upside of the majors, leading the session.
- USD climbed further after Friday’s flash PMI and hawkish Fed tone.
- JPY weakened, remaining the weakest currency, despite a slightly stronger core CPI reading.
- CHF lagged behind the JPY for most of the Asia‑Pacific session.
- CN50 was the clear out‑performer, up close to 1%.
- Bonds stayed largely flat as investors awaited Powell’s remarks on the labour market and rate path.
- Platinum slipped 0.71%, the most active commodity move, while oil, gold and silver traded marginally lower.
Summary
Overall, the session was a quiet, slow grind with little momentum. Powell’s speech was slated for 15:00 BST / 09:00 ET, keeping markets on edge.
(Source)
