Published: 2024-08-26T10:02:02.000Z
Psychology for major markets August 26th
Director of Research , Macroeconomics and Strategy
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Israel and Hezbollah missile strikes have advanced JPY still further Monday.
EUR/USD – Powell has powered USD to further losses across the board on speculation about faster rate cuts than ECB. 1.1275 being eyed.
USD/JPY – JPY gains ground on Isreal/Hezbollah missile fire to add to Powell and Ueda on Friday. 142 targetted by traders.
EUR/GBP – BOE Bailey suggest no Sep cut and gradual cuts. Mkt targetting 0.8450.
AUD/USD – AUD drifts lower monday, but remains well bid with USD downtrend broadening.
Equities – Powell helps equities, but Nvidia forward guidance this week key for U.S. bulls.