Japanese inflation provided a slight surprise to the upside, helping the yen gain some ground on the dollar. Markets, however, look to Jerome Powell’s speech later today
Concerns about over an imminent recession have receded, allowing riskier assets to recover, however, the oil market continues to price in concerns of lower global demand
The significant strengthening of the yen added to Japan’s trading deficit in July but economists and the market as a whole still expect another rate hike in December
Precious metals and risk assets have witnessed remarkable recoveries since the contained sell-off at the start of August. See how gold, silver and the S&P 500 shape up