Gold fell to about $3,310 per ounce, its lowest in three weeks, pressured by easing geopolitical risks and a firmer U.S. dollar. Trump ruled out ground troops for Ukraine but hinted at air support, while Zelenskiy called the talks a step toward peace. Markets now await Powell’s policy remarks.

Bitcoin traded near $113,000, close to a six-week low after recent declines. The drop reflected its correlation with tech stocks as investors trimmed risk exposure ahead of the Jackson Hole symposium. Stronger U.S. inflation and retail sales data have dampened hopes for aggressive Fed easing.

The yen strengthened to 147.5 per dollar despite weak trade data. July exports fell 2.6%, the sharpest drop in four years due to U.S. tariffs, while imports slipped 7.5%, less than expected. Mixed signals from policymakers keep uncertainty around the BoJ’s policy outlook.

Brent crude rose above $66 per barrel after U.S. inventory data showed a sharper-than-expected drawdown, signaling stronger demand. Gains were capped by optimism over potential Russia–Ukraine peace talks, which could ease sanctions on Russian oil and increase supply.

The Nasdaq slipped Wednesday as traders awaited Fed meeting minutes and major retail earnings. A stronger U.S. dollar and easing geopolitical risks also weighed on sentiment. Focus now shifts to the Jackson Hole symposium, where Fed signals could set the tone. Tech stocks remain vulnerable to hawkish surprises, though a softer stance may spark a rebound. The index trades near 23,335, just above 23,200 support.

The offshore yuan slipped to about 7.19 per dollar after the PBoC left lending rates unchanged for a third month. The move was expected, but the yuan was pressured by a stronger U.S. dollar ahead of Jackson Hole. Markets still price in a high chance of a Fed rate cut in September.