The day was quiet, with limited data releases and a subdued news flow keeping markets rangebound as traders await Fed Chair Powell’s speech.
Key moves
- UK stats office to delay July retail sales data release to 5 September
- A typical summer’s day in European trading so far
- Eurozone June current account balance €35.8 billion vs €32.3 billion prior
- US, European officials reportedly to immediately work on security guarantees for Ukraine
- What are the main events for today?
- Fed chair Powell to adopt a more cautious approach at Jackson Hole – MUFG
- Another quiet session beckons for European traders
- Japan veteran lawmaker calls on BOJ to “start early” on interest rate hikes
Summary
Market expectations now sit at a 53‑bp easing of Fed policy by year‑end, down from 64 bps after the latest US CPI. Canadian CPI, the Reserve Bank of New Zealand decision, Flash US PMIs and jobless claims will steer the next trading days, while September’s NFP is poised to be the decisive catalyst for future rate expectations.
(Source)
