Markets are getting ready for Powell’s speech

US equities continue to reach new record highs every day, while other markets are calmer. On Wednesday, equity indices were trading marginally lower during the London session, while EU bourses were more bearish.

Investors are looking to Thursday’s Jackson Hole symposium, where U.S. Federal Reserve Chairman Jerome Powell gives a speech about the near-term future of monetary policy. These symposiums usually sound dovish, and this year will most likely be no exception.

Tuesday’s data showed that the US consumer confidence dropped to a more than six-year low in the United States this month. This is confirming the US economy won’t experience a V-shape recovery. Nevertheless, US stocks continued to rise as everything is bullish nowadays.

Later in the day, the US durable goods orders for July are due and should slow down notably from the previous month’s levels. 

Elsewhere, precious metals were seen unchanged and flat on the day (so far), while the greenback also failed to move and was trading flattish against most of its major peers.