Gold held above $3,330/oz as markets weighed Trump’s efforts to arrange a Putin–Zelenskiy meeting and awaited Powell’s Jackson Hole remarks. Futures imply an 84% chance of a September 25 bps cut, keeping traders cautious but supportive of bullion.

Bitcoin slid to $115,000, down 0.8% on the day and 1.1% over four weeks, though still up 96% YoY. Forecasts suggest it could ease to $114,082 this quarter and $103,706 in a year.

The yen traded near 148 after a 0.5% drop, pressured by optimism over Ukraine talks and U.S. criticism of the BoJ. Japan’s Q2 GDP grew 0.3%, driven by net exports. Governor Ueda remains cautious as core inflation stays under 2%.

Brent slipped to $66.2 as peace hopes rose after Trump pushed for a Putin–Zelenskiy summit. Despite optimism, Brent is down ~10% in August on trade tensions and rising OPEC+ supply.

The index closed at 23,736, up 0.12%. It gained 2.4% in four weeks and 20% YoY, though forecasts see it slipping to 23,321 by quarter-end and 22,273 in a year.

The offshore yuan held near 7.19 as traders awaited Jackson Hole and Fed guidance. Odds of a September 25 bps cut eased to 84% after firmer U.S. data. The PBoC is expected to keep rates steady, while weakness persists in property and retail.

Please refer to the file below for a more detailed analysis.