Good start
Much of the market’s attention this week will be focused on Friday’s speech.Federal Reserve Chairman Jerome Powell at the Jackson Hole Symposium. At thelast year, he launched a new way of administering monetary policy, includingallow for excess inflation. A year later, concerns are being raised aboutthat the policy has already passed its expiration date, with inflation stubbornlyhigher than the bank’s policy target. There was good news for Powell whensaid Treasury Secretary Janet Yellen would endorse it for a secondmandate
Growth
Mixed fortunes in fighting the pandemic around the world is evident in PMI datathis morning. Activity in Japan’s service sector shrank at the fastest pace in15 months as restrictions to fight the Covid-19 wave hit the business. AtEurope, manufacturing performance was surpassed by services for the first time since thepandemic, with factories struggling to meet demand in August due to shortagesof components and transport difficulties. The service PMI for the UK waslower than expected, with companies blaming the lack of staff. The PMI data ofUS economy, published at 10:45 GMT, should show a slightmoderation in the pace of growth
$50k
Bitcoin has risen above $50,000 for the first time since May, as thecryptocurrencies continue their recovery from the defeat that saw the original digital token fallfor less than $30,000 just over a month ago. As the old saying goes, there is nonothing like price to change sentiment, so Bitcoin $100k predictions areback to fashion. The asset’s rise pushed some technical levels, increasing thebullish sentiment, while Paypal Inc.’s decision to allow Kingdom customersUnited make cryptographic transactions is also helping
Markets go up
Global investors are starting the week positively aslooking for bargains after last week’s fall in stocks. During the night, theMSCI Asia Pacific index added 1.3%, while Japan’s Topix index closed 1.8%above. In Europe, the Stoxx 600 Index had added 0.4% at 6:50 am, with retailersamong the best performers. S&P 500 futures pointed to a gainsimilar at the opening, the 10-year Treasury yield was at 1.282%, theoil was back at $64 a barrel and gold was higher
Arriving
The Chicago Fed National Activity Index for July is at 9:30 am, PMI datais at 10:45 am and existing home sales figures for July are at 11 am. the GDP of thePeru in the second quarter is expected to reach more than 40%. JD.com Inc., FinVolution Group.,Palo Alto Networks Inc. and Ferroglobe PLC are among the companies that reportedresults
Source:https://wintrademarkets.com/
