The euro traded near $1.168 ahead of the Trump–Zelensky meeting on Ukraine and Powell’s Jackson Hole speech. Gold rebounded to $3,350 on safe-haven demand, while Brent oil edged above $66 amid peace talks but remains down over 10% this month on tariffs and OPEC+ supply. Bitcoin slipped back to $115K after a recent record, pressured by hotter US wholesale inflation.

In bonds, US 10-year yields hovered near 4.3% as resilient retail sales tempered easing hopes, while Japan’s JGB yields rose above 1.56% on stronger GDP, fueling BoJ hike speculation. In Europe, Germany’s ZEW sentiment index fell sharply to 34.7, reflecting weak industrial performance, while UK wage growth held at 5% but real wages rose just 0.9%, keeping pressure on households.

Looking ahead, the week is packed with Fed minutes, Jackson Hole, and global PMIs. The BoE, RBNZ, and PBoC will be in focus alongside inflation readings in the UK, Japan, and China. Markets remain finely balanced between political diplomacy, inflation risks, and central bank policy paths.

Please take a look at the file below for further analysis.