GBP/USD saw a softer start to the new trading week, easing back around four-tenths of one percent through the opening market sessions. The US Dollar (USD) pared some of last week's overall losses, trimming near-term gains for the Pound Sterling (GBP) on Monday. The week starts on a quiet note, with little of note on the data docket. That all changes on Wednesday, with a fresh salvo of key economic data from the United Kingdom (UK) and the start of this year's Jackson Hole Economic Symposium hosted by the Federal Reserve (Fed) Bank of Kansas. UK Consumer Price Index (CPI) inflation figures...
Gold consolidates in early Asian trade ahead of the Jackson Hole economic symposium later this week. Traders await any further signals that Fed rate cuts are imminent, ANZ Research analysts say in a research report. This may happen at the symposium, where Fed Chair Powell is expected to set the scene for rate cuts as soon as September, the analysts say. However, a stronger USD has tempered investor demand while easing geopolitical tensions have weighed on safe-haven-related buying, they add. Spot gold is little changed at $3,331.89/oz. Source: Bloomberg
Oil markets were in focus following President Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy, as traders weighed the potential implications for regional stability and energy flows. Crude oil held steady after Monday's gain, as Trump said he began arranging a meeting between Russian President Vladimir Putin and Zelenskiy. Asian stocks may struggle for direction at the open after the S&P 500 closed little changed. The yield on 10-year Treasuries rose two basis points on Monday, while the Bloomberg Dollar Spot...