Markets Cautious Ahead of Fed Chair Warsh's First Jackson Hole Speech
Fed Chair Kevin Warsh, who took over from Jerome Powell in May, will deliver his first keynote speech today at 10:00 (US Eastern time) at the Jackson Hole Economic Policy Symposium. According to a CNBC survey of 31 economists and strategists, only 8% of participants expect Warsh to signal a 'rate cut' in his speech, while 80% want Warsh to explain his economic views in more detail. The bond buyback expansion recently announced by Treasury Secretary Scott Bessent also creates additional pressure on the Fed through bond yields.
Gold: Fell Below $4,600 After Inflation Data
XAU/USD fell to around $4,580 in the Asian session, moving away from its three-month peak. Today's higher-than-expected PCE data kept the possibility of a Fed rate hike alive, triggering profit-taking in gold. Markets are now awaiting signals from Warsh's speech.
PCE Inflation Came in Above Expectations
In the US, the PCE price index for July came in at 3.7% annually, unchanged from the previous month and above market expectations of 3.6%. Core PCE materialized at 3.3% annually, in line with expectations, while headline PCE increased by 0.2%, above the 0.1% expectation on a monthly basis. The data indicates that the Fed's fight against inflation is not yet over.
EUR/USD: Near Three-Month High on Dollar Weakness
EUR/USD trades at the 1.1652 level, continuing its course near its highest levels since mid-May. While the Treasury's decision to expand bond buybacks weighed on yields and weakened the dollar, expectations for a new rate hike by the ECB at its September meeting are almost fully priced in.
Nvidia Earnings Continued Tech Rally
In its quarterly financial results announced on Thursday, Nvidia reported $96.2 billion in revenue (106% YoY increase) and $2.22 earnings per share; the company's strong revenue projection drove its shares up 8.7%. As the rally spread to the chip sector, the Nasdaq Composite rose 1.57% to 26,541.35 points, while the S&P 500 gained 0.72% to reach 7,730.99 points.
Ekonomik Takvim | August 28, 2026
🇺🇸 17:00 (GMT+3)
Fed Chair Kevin Warsh's Jackson Hole Keynote Speech
Warsh's first major speech as Fed Chair; whether he will give a concrete signal regarding the rate path will be closely watched. The speech could lead to sharp movements in the dollar, gold, and US bond yields.
⚠️ CFDs and forex trading carry a significant risk of loss and may not be suitable for every investor. Follow global markets with FXPARTNER, evaluate economic developments with instant analysis, and make informed trading decisions. This content is for general information purposes only and is not investment advice.
Trade with the right broker
While following market developments, check out brokers compared based on regulation, cost, platform, and withdrawal reliability criteria.
See Broker RankingsThis content is for general information purposes and does not constitute investment advice. You are advised to conduct your own research and, if necessary, consult an expert before making investment decisions.