Daily feed to exchange ideas and share your thoughts
Major currencies remain quieter, as the focus today is on Fed Chairman Powell’s speech later at the Jackson Hole Symposium.
Over the week, the dollar was slightly weaker throughout the yen as stocks continue to climb – the S&P 500 and the Nasdaq register another all-time high, but that may change as we look to the final stages of the week.
The focus is on the greenback and bond yields as Powell is likely to bring up the Fed’s point of view over the next few years and what it might take to get it out of the measures current policies and how it would view inflation and labor. market.
But stocks surely have the most to lose if we see Powell setting a darker tone and last week’s Fed minutes certainly serve as a good reminder of that.
For now, we’ll have to wait and see what Powell has to offer and alongside the month-end rebalancing feeds, that will certainly make the final sessions tricky before the weekend.