Posted at 26 August 2026 / Categories Market Roundups
Market Roundup
• Australia MI Leading Index (MoM) (Jul) 0.0%, 0.1% previous
• Australia Construction Work Done (QoQ) (Q2) -2.1%, 0.5%forecast, 4.3% previous
• Australia Weighted mean CPI (YoY) (Jul) 3.50%, 3.30% previous
Looking Ahead Economic Data (GMT)
• 10:00 UK CBI Distributive Trades Survey (Aug)-35 forecast,-26 previous
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro eased slightly against the U.S. dollar on Wednesday as investors awaited U.S. inflation data later that will set the tone ahead of the Jackson Hole symposium beginning later this week.The Fed's preferred inflation gauge, the ?U.S. Personal Consumption Expenditures (PCE) price index for July, is due at 1230 GMT. ?Attention is also on Fed Chairman Kevin Warsh's speech on Friday at the central ?bank's Jackson Hole symposium.Traders are pricing in a 61.6% chance that the Fed will leave rates unchanged ?next month, according ?to the CME ?FedWatch Tool.On the geopolitical front, Iran said it had restarted talks with neighbour Oman to manage the Strait of Hormuz, sending oil ?prices lower.. Immediate resistance can be seen at 1.1680(38.2%fib), an upside break can trigger rise towards 1.1734(Higher BB).On the downside, immediate support is seen at 1.1656(Daily low), a break below could take the pair towards 1.1585(38.2%fib).
GBP/USD: The British pound eased slightly on Tuesday, but the pair remains close to its six-and-a-half-month high of 1.3674 reached last Friday .Attention is now shifting to a busy U.S. economic calendar, with July PCE inflation, the second estimate of Q2 GDP and Nvidia's earnings due Wednesday. Markets will also closely watch Fed Chair Kevin Warsh's Jackson Hole speech on Friday for clues about the future path of U.S. interest rates. On the UK side, inflation expectations increased in August after recent declines, with one-year expectations rising to 3.9% from 3.4% in July. This could reinforce concerns about persistent inflation and keep expectations for tighter Bank of England policy supportive for the pound. Immediate resistance can be seen at 1.3685(23.6%fib), an upside break can trigger rise towards 1.3716(Higher BB).On the downside, immediate support is seen at 1.3624(Daily low), a break below could take the pair towards1.3531(38.2%fib).
AUD/USD: The Australian dollar firmed on Wednesday as stronger-than-expected Australian inflation reinforced expectations that the Reserve Bank of Australia could resume tightening policy.July headline CPI increased 1.0% month-on-month and 3.5% year-on-year, exceeding expectations of 0.8% and 3.3%. The trimmed-mean measure, which is closely watched by the RBA, also remained elevated at 3.6% year-on-year, keeping underlying price pressures above the central bank’s 2%-3% target band.The stronger inflation report has shifted attention back toward the possibility of another RBA rate hike. Markets had previously expected the central bank to remain on hold, but the latest data suggest inflation is proving more persistent than anticipated. Immediate resistance can be seen at 0.7178(Higher BB), an upside break can trigger rise towards 0.7201(23.6%fib).On the downside, immediate support is seen at 0.7093 (38.2%fib), a break below could take the pair towards 07054(SMA 20)
USD/JPY: The U.S. dollar eased against yen slightly on Wednesday as investors positioned for key US inflation data and Federal Reserve Chair Kevin Warsh’s speech later this week. Economists expect Wednesday’s data to show that the U.S. Personal Consumption Expenditures (PCE) price index, excluding volatile food and energy costs, rose 3.3% year-on-year in July. Federal Reserve Chair Kevin Warsh is set to deliver his closely watched keynote address at the annual Jackson Hole symposium on Friday, August 28, rather than Thursday Bank of Japan board member Naoki Tamura will represent Governor Kazuo Ueda at this .week’s Jackson Hole symposium, as Ueda will skip the event due to a scheduling conflict. BOJ Deputy Governor Ryozo Himino will also deliver a speech and hold a news conference on Thursday, where he could deliver signs about the likelihood of a rate hike next month. Immediate resistance can be seen at 159.21(SMA 20), an upside break can trigger rise towards 160.00(Psychological level).On the downside, immediate support is seen at 158.60(Daily low) a break below could take the pair towards 156.16 (Daily low).
Equities Recap
Asian stocks gained on Wednesday as falling oil prices eased inflation concerns and pushed bond yields lower, supported by hopes that the Strait of Hormuz could reopen.
Japan’s Nikkei 225 was up by 0.61% , KOSPI was up at 0.97%, China A50 was up at 0.78 %
Commodities Recap
Gold prices slipped on Wednesday after reaching a more than three-month high in the previous session, as investors awaited the U.S. July PCE inflation report for clues on the Federal Reserve’s next interest-rate move.
Spot gold fell 0.6% to $4,626.79 per ounce, by 0625 GMT. Prices climbed to their highest since ?mid-May on Tuesday after last week's sharp gains following the U.S. Treasury's bond ?buyback announcement.
Oil prices fell more than $2 a barrel on Wednesday as renewed Iran-Oman talks raised hopes of reopening the Strait of Hormuz, easing concerns over shipping disruptions and potential supply shortages in the key Middle East oil corridor.
Brent crude futures fell $2.30, or 2.6%, to $86.28 a barrel by 0447 GMT, earlier dropping to their lowest since August 13. U.S. West Texas Intermediate crude ?futures were down $2.08, or 2.53%, at $80.29, earlier sinking to their lowest since August 10.