Global markets wrapped up last week higher again despite plenty of noise, with conflicting US inflation prints keeping traders on edge. The highly anticipated Trump–Putin summit came and went late Friday with little detail on what was achieved, leaving investors now looking ahead to President Trump’s meeting with Ukrainian President Volodymyr Zelenskiy in Washington on Monday for the next round of geopolitical headlines.
This week is stacked with heavyweight central bank events and key macro updates, headlined by the Reserve Bank of New Zealand’s policy decision and the Federal Reserve’s annual Jackson Hole Symposium. With a dense calendar of data releases and policy signals, expect volatility to rise as markets digest the flood of headlines.
Key Highlights This Week
- RBNZ Rate Decision – NZD
- Jackson Hole Symposium – USD
- UK CPI Data – GBP
Monday – A Quiet Start
Markets begin the week on a lighter calendar, but geopolitical developments will keep traders alert. The Trump–Zelenskiy meeting in Washington may provide the first catalyst.
Tuesday – Data Out of Asia and Canada
Focus shifts to Asia, with New Zealand’s PPI and Australia’s Consumer Sentiment reports on deck. Later, Canadian CPI takes the spotlight, providing fresh insight into inflation dynamics north of the border. In the US, Fed Governor Michelle Bowman is scheduled to speak, offering additional clues on the Fed’s policy path.
Wednesday – The Big Day
Wednesday is the most critical session of the week.
- Asia: China’s Loan Prime Rate sets the early tone.
- New Zealand: The RBNZ delivers its latest rate decision, closely watched by FX traders.
- Europe: UK CPI is the headline print, carrying significant implications for the Bank of England.
- US: Markets brace for comments from Fed Governors Waller and Bostic, alongside the release of the latest FOMC Meeting Minutes.
Thursday – Flash PMI Wave
Thursday brings a wave of Flash PMIs across the globe.
- Asia-Pacific: Australia kicks things off.
- Europe: France, Germany, and the Eurozone provide updates.
- UK & US: Both regions deliver PMI readings, while the US also publishes weekly jobless claims and the Philly Fed survey.
Momentum will then shift toward Jackson Hole as central bankers begin to gather.
Friday – Jackson Hole in Focus
The end of the week may see a quieter data slate with UK and Canadian Retail Sales, but the main event is at Jackson Hole. Fed Chair Jerome Powell’s keynote speech will be the central focus, with traders searching for clues on the Fed’s inflation fight and longer-term rate outlook. Volatility is likely to spike into the weekend as markets parse every word.
✅ Takeaway: With central banks back in the spotlight and Jackson Hole looming, expect heightened volatility across FX, equities, and bonds. Traders should prepare for sharp moves as policymakers set the tone for the months ahead.