Markets once again settled in to wait for Federal Reserve Chair Powell to speak on Friday, US time. On Thursday during the US session we had a chorus
Markets
once again settled in to wait for Federal Reserve Chair Powell to
speak on Friday, US time. On Thursday during the US session we had a
chorus of Fed speakers, all of them flagging more rate rises soon to
come. This sets the tone for hawkish comments from Powell. Its
difficult to think he could more hawkish than expected given the
comments on Thursday which leaves a less hawkish than expected
surprise front and centre? We’ll soon find out!
On
the data agenda today were inflation indicators for Japan. Core CPI
in the Tokyo area came in at its highest in nearly 8 years. The yen
weakened on the session. Not by too much, USD/JPY rose around 35 or
so points from its earlier lows.
Ranges
for other major FX against the dollar were also limited. The USD is
net a touch stronger pretty much across the board during the session
so far.
Check
out the posts above on the Jackson Hole schedule. Note there are ECB
speakers coming up on Saturday. Also the Swiss National Bank Chair
Thomas Jordan.
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