S&P 500: Futures fall with the eye on Powell’s speech

• Markets cautiously ahead of Powell’s words.
• The president of the Fed will present in Jackson Hole and his panorama will be key for the markets.
• The dollar with modest losses, without clear direction.

Wall Street futures are trading in negative territory ahead of Powell’s speech. In Europe, markets are also down. The dollar is losing strength, while gold continues to slide.

Powell and then another story

Friday finally arrived, where the key event will be the speech of the president of the Federal ReserveJerome Powell. For days, the market has been moving in anticipation of what it may say. It is estimated that it will point to the monetary tightening until inflation is under control. The economic outlook along with the view on the impact of the adjustment is expected to have a broad impact on the financial markets.

In addition to the speech, in the US the personal income and expenditure report will be published, which includes the evolution of the personal consumption expenditure price index, a gauge of inflation closely watched by the Fed.

Waiting for the outlook Powell, Wall Street futures are trading at a loss: Dow Jones futures down 0.31%, Nasdaq down 0.56% and S&P down 0.43%. In Europe, the main markets fell by an average of 0.25%.

The treasury bond yields They operate without major changes. The 10-year bond yields 3.07% and the 2-year tranche 3.38%. Gold falls below $1750, two-day low.

The cryptocurrencies accelerated downward in the last hour. Bitcoin falls more than 2% and is approaching $21,000.

Among the coins, the dollar It went into negative territory in the last hours, although with modest losses. The euro is among the best performers, with EUR/USD above 1.0000. The yen is one of the weakest.

The prices of Petroleum rose modestly, recovering from Thursday’s drop. The barrel of WTI is approaching $94.00. The Saudi official’s comment about a production cut had support beyond Saudi Arabia.

Technical levels