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Fed Chair Powell's Focus at Jackson Hole Symposium
2024-08-18 14:59:08
Markets
Economy
Finance

Fed Chair Powell's Focus at Jackson Hole Symposium

As the Jackson Hole symposium nears, all eyes are on Fed Chair Powell for insights on economic trends and potential rate adjustments. Market attention shifts from Powell to the Japanese yen and carry trade dynamics, influenced by interest rate differentials and market volatility.

Key data from the US, Canada, Asia, and Europe will impact market sentiments. Earnings reports from major companies and IPOs from Powell Max and Trident Digital Tech add to the market buzz.

Investors eagerly seek clues on Federal Reserve rate cuts and monitor developments in retail earnings and economic indicators for market direction amidst uncertainties.

Related news on that topic:

Market Insights: Powell's Influence on Housing and Financial ... Markets

Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole Symposium holds significant weight for financial markets and housing. Investors anticipate clues on future interest rate cuts, with declining bond yields and mortgage rates prompting a surge in refinancing applications. As cybersecurity concerns rise, Palo Alto Networks' earnings report gains attention. Meanwhile, cautious consumer spending noted by retailers like Home Depot and Starbucks reflects economic uncertainty. Powell's address, amid concerns of a looming recession, is closely monitored by politicians and analysts alike, with expectations of potential rate adjustments to stimulate the US economy. The recent market rebound, buoyed by soft landing bets, also signals a positive outlook for stocks and economic growth.

US stock market: Largest weekly gain of the year, recession ... concerns ease

The US stock market closed higher, with the largest weekly gain of the year, as concerns about a US recession have eased. Investor focus is on the annual economic symposium in Jackson Hole, Wyoming from August 22-24. The S&P 500 and Nasdaq Composite have risen for 7 consecutive trading days, recording their largest weekly gain since late October last year. Positive economic data, such as the US consumer price index (CPI) and retail sales, have contributed to the rally, indicating a gradual decline in inflation and healthy personal consumption. The Federal Reserve's commitment to cutting rates in September has also boosted confidence. Next week, the market will be watching for comments by Fed Chair Powell at the Jackson Hole meeting, which could impact expectations for rate cuts. In individual stocks, semiconductor equipment maker Applied Materials fell as its Q4 revenue outlook missed estimates.

Read 35 more recent news on this topic

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17. August 2024 um 20:00

Fed Chair Powell Steps Into the Spotlight at Jackson Hole

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The Jackson Hole symposium will be closely watched for Fed Chair Powell's remarks on the economic outlook and future rate decisions. Key data includes US housing, jobless claims, and a payroll revision, as well as Canadian inflation and retail sales. In Asia, central bank decisions and data will be eyed. In Europe, the ECB's wage and PMI data, as well as rate decisions from the Riksbank, Turkey, Iceland, Rwanda, and Botswana, will be in focus.
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18. August 2024 um 10:15

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The market's focus has shifted from Powell to the Japanese yen and carry trade. The yen started strengthening after the July 11 weaker-than-expected US CPI report, followed by a Japanese government intervention in the FX market. The USD/JPY continued to decline as fears grew that the BOJ might raise rates, and weak US employment data on August 2 sent the USD/JPY plunging. BOJ deputy governor Uchida signaled the bank would not raise rates during periods of market volatility, but the July 31 BOJ..
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