investingLive Asia-pacific FX information wrap 22 Aug: Sluggish grind with eyes on Powell

It has been a principally gradual grind by way of the session as markets maintain their powder dry forward of Powell’s speech at Jackson Gap.

• Implied volatility ranges for main belongings forward of Jackson Gap
• Goldman: Powell More likely to Again Cuts however Stops Wanting a Clear Sign
• What’s price expectations for the Fed forward of Powell’s speech
• USGS downgrades Drake Passage earthquake to magnitude 7.5 from eight.Zero
• China says Xi and world leaders to attend SCO summit in Tianjin
• Nvidia CEO feedback on China shipments, US talks, and TSMC collaboration
• Fed’s Powell set to reverse key components of 2020 coverage technique – WSJ
• PBOC units USD/ CNY mid-point at present at 7.1321 (vs. estimate at 7.1871)
• The place is nowcasts for progress and inflation forward of Powell’s speech
• OpenAI’s Chief Folks Officer to step down
• Nvidia Orders Halt to H20 Manufacturing After China Directive Towards Purchases
• PBOC is anticipated to set the USD/CNY reference price at 7.1871 – Reuters estimate
• Jackson Gap Symposium Agenda
• China, Pakistan pledge deeper ties and CPEC improve
• Japan nationwide core CPI YY three.1% vs three.Zero% anticipated (three.three% prior)
• UK GFK Client Confidence -17 vs -20 anticipated (-19 prior)
• Financial Calendar for the day forward 22 Aug 2025
• Boston Fed’s Collins open to price reduce amid tariff and job dangers
• Fed’s Goolsbee says September FOMC is stay, economic system sending combined alerts
• Rubio broadcasts pause on business truck driver visas
• Kim Jong Un praises North Korean troops for abroad operations
• US Supreme Court docket permits Trump-era cuts to NIH variety grants
• USD & yields increased whereas shares wrestle as first rate knowledge marginally trims price reduce bets
• California passes redistricting plan to spice up Democrats in US Home

Information all through the session was on the sunshine facet.

In FX, the AUD is main the majors on the upside, adopted by the USD which has continued increased following yesterday’s flash PMI knowledge and hawkish Fed commentary. The JPY is the weakest on the session, regardless of Japanese nationwide core CPI YY printing barely stronger than anticipated. The CHF was weaker than the JPY for almost all of the Asia-Pac session although.

For Indices, the clear outperformer has been the CN50 which was up near 1% on the time of writing. All the opposite main Indices have been near flat on the session. Some marginal power and weak spot throughout the board however nothing to get enthusiastic about.

Bonds has barely completed something to date, and that’s to be anticipated as markets anticipate Powell’s speech and what his feedback are concerning the labour market and the speed path shifting ahead.

For commodities, fairly uneventful for Oil, gold and silver which is all buying and selling marginally decrease on the session, with platinum probably the most thrilling mover with a drop of -Zero.71% on the time of writing.

General it has been a reasonably quiet session and gradual grind for markets, with Powell’s speech scheduled for 15:00 BST / 09:00 ET.

Good luck on the market at present.

It has been an absolute pleasure overlaying for the always-awesome Eamonn this week.

This text was written by Arno V Venter at investinglive.com.