Fundamental

The British pound is rallying against the yen, testing the 200 level as support from the 50-Day EMA keeps the bullish trend intact ahead of Powell’s speech.

The British pound dropped against the US dollar, with bearish pressure targeting 1.3250 while resistance at 1.36 caps upside ahead of Powell’s Jackson Hole speech.

USD/CAD rallied above the 200-Day EMA, with buy-the-dip sentiment aiming for 1.40 while Powell’s Jackson Hole speech could spark volatility.

USD/CHF is testing the 0.81 area with bullish potential toward 0.82, while Powell’s Jackson Hole speech looms as the key catalyst for volatility.

Gold is looking to extend the previous decline early Friday after Thursday’s late rebound lost traction. All eyes now turn to US Federal Reserve (Fed) Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium.

Spot Gold trades little changed on Thursday, trading just shy of $3,350 in the American afternoon. Financial markets turned optimistic following the release of the S&P Global preliminary estimates of the United States (US) Purchasing Managers’ Indexes (PMI), as data was much better than anticipated.