Kabul blasts hit sentiment, markets hold for Powells taper talk
Friday 27th August 2021Market sentiment has been hit by the explosions in Kabul this morning, but NAB\u2019s David de Garis says the response has been fairly limited. It certainly hasn\u2019t knocked currencies and equities out of their trading ranges. No, the real focus today will be on what Jerome Powell says at tonight\u2019s virtual Jackson Hole Symposium. Even though more hawkish members of the Fed are pushing for tapering sooner rather than later, it\u2019s still likely that Powell will retain a wait and see approach. There\u2019s still too much uncertainty to assume jobs will keep bouncing back at the rate we saw in the last non-farm payrolls. The next report is only a week away. Whilst the NSW Premier talks about easing restrictions, the national cabinet meets today to nut out a COVID strategy.
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