FX Update: Trump is panicking and USD is breaking up
A remarkable day yesterday for the Trump administration, as the president seems to be panicking on all fronts to bring support to the economy and markets. And yet the US dollar continues to press higher as we eye an important speech from Fed Chair Powell at Jackson Hole, Wyoming on Friday.
FX Update: Trump’s backtracking boosts sentiment
Trump’s softer stance on trade ahead of the weekend has spilled over to this week and boosted market sentiment as the trading week gets under way. But market attention will quickly swing to the Fed this week, as Fed chair Powell set to deliver a speech at Jackson Hole this Friday.
WCU: Gold reigns as global bond yield collapse continues
Global growth concerns and ample supply of key commodities have been the main drivers behind the weakness seen across the sector so far this quarter. Precious metals remain the exception with gold responding strongly to the ongoing collapse in global bond yields.