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Weekly Market Preview
Friday, August 18, 2023
Investors await a light economic calendar this week. However, their focus will be on the upcoming Jackson Hole event, where central bank leaders will convene in the United States. The highlight will be the speech by the Chairman of the Federal Reserve at the close of the week, as market participants seek insights into the trajectory of the US Central Bank’s policy. This interest is particularly pronounced following the recent uptick in inflation, which moved from 3% to 3.2%, a rise attributed to increased energy prices.
The markets are keen to discern the level of tolerance among monetary policymakers toward current inflation rates. This prompts the question of whether the Federal Open Market Committee (FMOC) is leaning towards maintaining existing interest rates for an extended period or if a 25-basis points rate hike is more likely for the September meeting. The outcomes of these considerations hold significance for market dynamics and sentiment moving forward.
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