• USDIndex – in demand again ahead of Powell in Jackson Hole and markets speculated on a 100 basis point ECB hike by October, although some recovered to end at 108.64.
• euros – Remains below parity. German GfK consumer confidence fell to -36.5, which could sustain the euro.
• JPY picked up to 137.00, GBP stable below 1.1800.
• AUD fell 0.4% below the psychological level of $0.7 a NZD fell 0.5%, giving up some of the previous day’s strong gains. The AUD it fared better against shaky European currencies.
• stocks: US stocks are in the red with concerns of aggressive tightening and yield growth limiting profits (USA100 increased by 0.41%, while USA 500 an increase of 0.29% a USA30 0.18% higher). Nikkei and ASX rose 0.8% and 0.5% after a strong close on Wall Street. GER40 and UK100 futures rose 0.4% and 0.3%.
• Oil It fell about $2 a barrel on the possible return of sanctioned Iranian oil exports and concerns about the impact of rising U.S. interest rates on fuel demand. Down $92.08.
• Gold – bounced off support on $1751.80 on $1758.70.

Today – US PCE, Michigan Consumer Sentiment, Jackson Hole Symposium and Fed Chair Powell’s speech.

The biggest FX Mover @ (06:30 GMT) NZDUSD (–0.45%). Fell into 0.6195 of 0.6250. MA aligns lower, MACD histogram negative and signal line is falling, RSI 36.74 and falling, H1 ATR 0.00089.

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Andria Pichidi

Market analyst

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