A man using his mobile phone is silhouetted against a stock quotation board outside a brokerage firm in Tokyo February 21, 2006. — Reuters pic
The broad Euro STOXX 600 turned positive in early trading to gain 0.2 per cent, with indexes in Frankfurt and Paris both up a similar amount, though London fell 0.2 per cent. In another sign of a more positive mood, safe-haven gold fell 0.6 per cent, on course for a fourth straight day of losses. Fed Chairman Jerome Powell is due to speak at a virtual Jackson Hole symposium tomorrow, where investors think he could outline a more accommodative approach to inflation which would open the door to easier policy for a long time to come.“Investors are expecting a bit more clarity on what the Fed is looking at. We are likely to see a high level of accommodation for some time to come.
Data due later in the day is forecast to show growth in US durable goods orders slowed in July, potentially offering further bad news for the dollar.