The Global “Super Week” Holds Its Breath: U.S. Stocks Face Three Tests, While Gold Soars Past $4,600
This week, global financial markets are set to experience a true “super week.” In the U.S. stock market, three key variables will be concentrated in validating: the Federal Reserve’s policy direction, key inflation data, and the earnings of AI giants
Federal Reserve policy and data: The Jackson Hole annual meeting of global central bankers (Aug 27–29) will be held, where Kevin Wösch, the newly appointed Fed chair, will deliver his keynote address for the first time in his role. Markets are highly focused on his stance toward recent fluctuations in U.S. Treasury yields and the signals for monetary policy. On Wednesday, the U.S. will release the July core PCE price index (market expectations: year-on-year remains at 3.3%) and the Q2 GDP revised figures
Gold market: Last week, spot gold kept breaking through the $4,400, $4,500, and $4,600 thresholds in succession. The weekly gain was 5.18%, closing at $4,602.09 per ounce. It logged a third consecutive weekly advance, with the cumulative rise since August already exceeding 13%. Contributing factors include the U.S. dollar index falling to around 98.65 near a three-month low, the U.S. Treasury stepping up long-term bond repurchases, and risk-off demand triggered by U.S. debt surpassing $40 trillion
This week’s market will hinge on a fierce contest around Wösch’s debut, inflation data, and Nvidia’s earnings—volatility could increase significantly #XAU $XAU
This week, global financial markets are set to experience a true “super week.” In the U.S. stock market, three key variables will be concentrated in validating: the Federal Reserve’s policy direction, key inflation data, and the earnings of AI giants
Federal Reserve policy and data: The Jackson Hole annual meeting of global central bankers (Aug 27–29) will be held, where Kevin Wösch, the newly appointed Fed chair, will deliver his keynote address for the first time in his role. Markets are highly focused on his stance toward recent fluctuations in U.S. Treasury yields and the signals for monetary policy. On Wednesday, the U.S. will release the July core PCE price index (market expectations: year-on-year remains at 3.3%) and the Q2 GDP revised figures
Gold market: Last week, spot gold kept breaking through the $4,400, $4,500, and $4,600 thresholds in succession. The weekly gain was 5.18%, closing at $4,602.09 per ounce. It logged a third consecutive weekly advance, with the cumulative rise since August already exceeding 13%. Contributing factors include the U.S. dollar index falling to around 98.65 near a three-month low, the U.S. Treasury stepping up long-term bond repurchases, and risk-off demand triggered by U.S. debt surpassing $40 trillion
This week’s market will hinge on a fierce contest around Wösch’s debut, inflation data, and Nvidia’s earnings—volatility could increase significantly #XAU $XAU