Today it’s going to be kind of a synthetic Sunday as we don’t have anything on the agenda. The only notable event is the Trump-Zelensky meeting in Washington where there will also be a few European leaders participating. Not sure if markets care about the Russia-Ukraine war though. The biggest moves have been seen just in specific markets like the Russian stock market, the ruble and maybe crude oil.
The focus this week is going to be on the Jackson Hole Symposium where Fed Chair Powell is going to deliver his speech on Friday. Traders will be attentive to any tiny signal on what’s next for monetary policy and whether Powell opens up for a rate cut in September. Most likely though, he won’t pre-commit to anything and will just reiterate that they will decide on the totality of the data.
