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[QUOTE="HFM, post: 149303, member: 46567"] [B]Date : 30th August 2021. Market Update – August 27 – All Eyes on Jackson Hole. Market News Today[/B] The markets closed a [B]difficult[/B] and [B]nervous[/B] week firmly in the green after [B]Fed Chair Powell’s dovish remarks[/B] at Jackson Hole. Many had geared up for hints that [B]QE tapering[/B] could be announced as soon as [B]September[/B] and begun in [B]October.[/B] But Powell said that while inflation may have met the criteria to begin reducing the pace of asset purchases, he stressed that “substantial slack” remains in the labor market which is likely to continue, hence failing the test. He also supported the transitory nature of inflation, countering the bevy of FOMC hawks who have been frequently in the press warning of price pressures and advocating tapering soon,[B] if not September.[/B] [LIST] [*]USD ([B]USDIndex[/B] 92.58) at multi-week lows today in the wake of Powell laying out a slower-than-expected path to rate hikes, & as traders’ focus shifts to US jobs. [*][B]Treasuries[/B] managed to extend the gains (10yr down -0.7 bp at 1.3%) [*][B]Equities [/B]are posting fractional gains, although markets clearly are cautious ahead of key jobs data for the US this week and as investors eye the impact of hurricane Ida as well as virus and geopolitical events. [B]Topix[/B] and [B]Nikkei[/B] are up 0.97% and 0.45% respectively also helped by stronger than expected retail sales numbers [*][B]Overnight[/B] – [B]USDJPY[/B] is at 109.75 and the Yen is stronger against most currently, while [B]AUD[/B] and [B]NZD[/B] struggled [*][B]USOil[/B] turned lower at [B]$68.04 [/B](falling 0.31%), after energy firms suspended 1.74 million barrels per day of oil production in the US Gulf of Mexico as Hurricane Ida slammed into the Louisiana coast as a Category 4 storm [*][B]Gold[/B] steadied to the $1812-$1823 area [/LIST] [B]European Open[/B] – The September 10-year Bund future is up 15 ticks, slightly outperforming US futures, although in cash markets Treasuries also managed to extend Friday’s post-Powell gains and the US 10-year rate is currently down -0.7 bp at 1.30%. Powell’s cautious stance also helped stock markets and most indices across the Asia-Pacific region had a good start to the week. [B]GER30[/B] futures are also up 0.12% this morning and US futures are posting fractional gains, although markets clearly are cautious ahead of key jobs data for the US this week and as investors eye the impact of hurricane Ida as well as virus and geopolitical events. In FX markets [B]EURUSD[/B] has lifted to 1.1801 and [B]Cable[/B] is trading little changed at 1.3765. [B]Today [/B]– UK markets are on holiday today, while the Eurozone data calendar includes Eurozone ESI economic confidence data as well as preliminary German inflation numbers for August, the Swiss KoF indicator and the US Pending home sales. [B]Biggest Mover[/B] @ (06:30 GMT) [B]GBPAUD (+0.56%) [/B]Spikes back to $1.8886 from $1.8797. Broke 50 EMA earlier, while faster MA’s aligned higher. The MACD signal line & histogram still below 0 line but rising. RSI at 56 and rising. H1 ATR 0.00145, Daily ATR 0.01024. [B]Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.[/B] Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. [B] Andria Pichidi Market Analyst HotForex Disclaimer:[/B] This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. [/QUOTE]
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