Heard it all before
• Jackson Hole. Chair Powell didn’t deviate much from the script. Fed prepared to tighten further if needed, & will hold rates at a “restrictive level” for some time.• Market swings. A bit of volatility in markets, but with a ‘higher for longer’ view priced in equities reversed course. This gave the AUD a bit of support.• Event risks. AU retail sales (today), the monthly CPI (Weds), China PMIs (Thurs), & US jobs report (Fri) are in focus this week. Markets endured a burst of volatility on Friday as US Fed Chair Powell delivered his much-anticipated Jackson Hole speech. In...