(By ATFX Analyst Team)
Key TakeawaysU.S. Personal Consumption Expenditures (PCE) Price Index rose 3.7% YoY in July, higher than expected. This slightly increased market expectations that the Federal Reserve could raise rates as early as next month. The data triggered pullbacks in U.S. equities and gold, while the dollar rebounded on renewed rate‑hike bets. Today’s focus: The three‑day Jackson Hole Symposium officially begins. Speeches from Fed officials and global central bank governors will reset market expectations for medium‑ to long‑term interest rates and monetary policy turning points. The highlight is Fed Chair Warsh’s speech tomorrow. Today, U.S. Initial Jobless Claims are expected to rise to 208K (previous 206K), with markets watching for any surprise. |
Global Market Review 27/08/2026
- U.S. equities closed slightly lower on Wednesday: Dow ‑0.21%, S&P 500 ‑0.02%, Nasdaq ‑0.08%.
- Dollar index rose 0.23%, its largest single‑day gain since August 6.
- Gold fell 1.4% as bets on the September Fed hike, with investors awaiting Warsh’s Friday speech.
- WTI crude closed higher after choppy trading, as investors monitored Iran–Oman talks on reopening the Strait of Hormuz.
Key Events Today:
Jackson Hole Symposium ***
- 14:00 EU GERMANY GfK Consumer Confidence SEP **
- 19:30 ECB Meeting Minutes ***
- 20:30 US Initial Jobless Claims ***
- 22:00 US Kansas Fed Manufacturing Index AUG **
August 28 (GMT+8)
- 07:30 JP Unemployment Rate JUL **
- 15:55 EU GERMANY Unemployment Rate AUG **
- 17:00 EU Economic Sentiment AUG **
- 20:30 CA GDP MoM JUN **
- 22:00 Fed Chair Warsh Speech ***
- 22:00 US Michigan Consumer Sentiment Final AUG ***
Markets Analysis 27/08/2026
- Resistance: 1.1670 / 1.1712
- Support: 1.1627 / 1.1575
EUR/USD fell after U.S. PCE boosted the dollar, then rebounded slightly. ECB rate path still provides support, with focus on the ECB minutes.
Analyst View: Dropped to a one‑week low but recovered to 1.1650 late. If the rebound holds, it may defend the lower bound of last week’s downtrend channel.
Bias: Mild correction
- Resistance: 1.3626 / 1.3668
- Support: 1.3558 / 1.3516
GBP/USD fell on Wednesday amid indirect PCE impact, ending a five‑day rally and dropping below 1.3600, marking its largest decline in a month.
Analyst View: Watch if the pair can reclaim 1.3600 near the 10‑day MA. Failure opens downside toward 1.3558/1.3516.
Bias: Short‑term pressure
- Resistance: 159.32 / 159.52
- Support: 158.90 / 158.70
After three days of gains, USD/JPY held steady in the high range during Asia on Thursday.
Analyst View: Mild rebound, still within a narrow range but above the 10‑day MA. Sustained trading above could strengthen upside momentum.
Bias: Range trading
- Resistance: 83.01 / 83.91
- Support: 80.10 / 79.21
Crude closed higher after volatility. Reports of an Iran–Oman agreement to temporarily reopen the Strait of Hormuz pressured prices, limiting the rebound.
Analyst View: Fell to its lowest since August 10 before recovering. Trading near 20‑day MA; breakout will determine if rebound continues.
Bias: Bearish tilt
- Resistance: 4669 / 4698
- Support: 4574 / 4545
- Resistance: 69.91 / 70.40
- Support: 67.80 / 67.29
Gold fell below $4,600 after the PCE release, as bets on a September hike rose. Market cautious ahead of Warsh’s speech.
Analyst View: Gold corrected overnight but rebounded early Thursday. Bulls defending $4,600, awaiting key guidance tomorrow.
Bias: Mild rebound
- Resistance: 53,998 / 54,382
- Support: 53,151 / 52,773
U.S. indices slipped on Wednesday as PCE lifted September hike expectations. Dow ended its rally, awaiting Warsh’s speech.
Analyst View: Still near one‑week highs. Holding above the 20‑day MA keeps the short‑term bias positive, but bulls remain cautious ahead of the speech.
Bias: Momentum slowing
- Resistance: 29,550 / 29,683
- Support: 29,122 / 28,992
Inflation data complicated the Fed outlook. Tech mixed; Nasdaq closed lower. Nvidia’s strong earnings may support Nasdaq today.
Analyst View: Still below 20‑day MA, stuck in low range. Holding 29,000 could enable a rebound.
Bias: Momentum slowing
- Resistance: 80,413 / 81,496
- Support: 77,850 / 76,750
Bitcoin edged higher on Wednesday after hitting three‑month highs, pausing as PCE data complicated the Fed’s outlook ahead of the September meeting.
Analyst View: BTC/USD remains in a week‑long uptrend channel. Holding $77,000 keeps bulls attempting a rebound, but $80,000 remains key resistance.
Bias: Range trading
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