ForexLive European FX news wrap: Tentative mood as stocks keep steady for now, Powell eyed

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/equities-hold-steadier-on-the-day-at-least-for-now-20230825/">Equities hold steadier on the day, at least for now..</a></li><li><a href="https://www.forexlive.com/news/a-look-at-the-fed-pricing-ahead-of-jackson-hole-later-today-20230825/">A look at the Fed pricing ahead of Jackson Hole later today</a></li><li><a href="https://www.forexlive.com/news/icymi-the-agenda-for-the-jackson-hole-symposium-20230825/">ICYMI: The agenda for the Jackson Hole symposium</a></li><li><a href="https://www.forexlive.com/news/germany-august-ifo-business-climate-index-857-vs-867-expected-20230825/">Germany August Ifo business climate index 85.7 vs 86.7 expected</a></li><li><a href="https://www.forexlive.com/news/germany-q2-final-gdp-00-vs-00-qq-prelim-20230825/">Germany Q2 final GDP 0.0% vs 0.0% q/q prelim</a></li><li><a href="https://www.forexlive.com/news/china-reportedly-plans-to-cut-stamp-duty-on-stock-trading-in-bid-to-recover-sentiment-20230825/">China reportedly plans to cut stamp duty on stock trading in bid to recover sentiment</a></li><li><a href="https://www.forexlive.com/news/boj-to-keep-policy-as-it-is-until-at-least-july-2024-poll-20230825/">BOJ to keep policy as it is until at least July 2024 – poll</a></li></ul><p>Markets:</p><ul><li>USD mixed</li><li>European equities higher; S&amp;P 500 futures up 0.2%</li><li>US 10-year yields up 1 bps to 4.245%</li><li>Gold down 0.1% to $1,916.18</li><li>WTI crude up 1.2% to $80.02</li><li>Bitcoin up 0.3% to $26,092</li></ul><p>It was a quiet session in terms of headlines as markets are waiting on the Jackson Hole symposium or more specifically Fed chair Powell's speech later. Personally, I don't expect anything new from Powell but it has been a while since he last spoke and markets are hoping for something to work with.</p><p>Equities are keeping steadier on the day but as has been the case in the past two weeks, the heavy selling tends to only hit in US trading. So, watch out for now. I wouldn't look much into the slight gains today unless Wall Street follows up on that.</p><p>The dollar was slightly higher earlier on but has seen gains pared during the session. EUR/USD looked to keep with the downside break in a push to 1.0770 but is now being rechecked back at 1.0800. Similarly, GBP/USD touched a low of 1.2560 but has reversed higher to 1.2610 for now at least.</p><p>All eyes will be on equities sentiment once again and if we do see another ugly session ahead, that should keep the dollar underpinned.</p><p>I wish you all a pleasant Friday and a wonderful weekend ahead!</p>

This article was written by Justin Low at www.forexlive.com.