investingLive Americas FX news wrap 28 AugNewsAdam Button28/08/2026 | 20:41 GMTTagsSession wrapWrap North AmericaAdd as a preferredsource on GoogleA hawkish Kevin Warsh sparked some market movesFed's Warsh: Numbers on price stability are 'more concerning'Univ of Michigan final sentiment index for August 51.7 vs 51.0 estimateFed's Hammack: It's time to act with rate hikes, waiting will create painCanada GDP Q2 annualized 3.
3% vs 3.4% estimateFed's Goolsbee: Agrees with Warsh that inflation is Fed's main issue right nowNon-farm payrolls benchmark revisions trimmed employment by 79K jobsMarkets:Gold down $145 to $4455US 10-year yields up 5.4 bps to 4.
73%US 2-year yields up 12 bps to 4.36%WTI crude oil down 8 cents to $83.43USD leads, NZD lagsNasdaq down 0.
5%S&P 500 down 0.2%It was a fairly straight-forward day in terms of 'what happened and why' in financial markets. The cosnensus ahead of Warsh was that he wouldn't offer much of a steer on rates and lean into ambiguity but that wasn't what unfolded.
Instead, he emphasized several reasons why the inflation part of the mandate was missing and pledged to get inflation back to target in stronger-than-expected terms. The comment were undoubltedly hawkish and market pricing went to 62% for a Sept hike from 33% before the comments.The market response was ultimately what you would expect as yields rose, USD climbed and stock markets declined but it was a winding path to get there.
The market initially seemed not to know what to make of it and stocks jumped in the aftermath, led by tech. However that fizzed in a couple hours and stocks sagged, led by tech and utilities. The dollar move was also jerky but ultimately steady as it gained consistently across the board and to the highs of the week on most fronts.
The precious metals and bitcoin moves were more dramatic, with the group falling 3-4% on signs the Fed really is serious about getting inflation to 2%. The next spot to watch will be the long end of the Treasury curve as yields should fall at some point if the Fed proves it will get inflation back to target and keep it there.Overall, Warsh made a compelling case for a stronger economy that isn't being held back by rates at current levels and that inflation expectations stay contained until -- suddenly -- they don't because the central bank loses credibility.
If not for the persistent belief that Warsh is in Trump's pocket, he would have moved the market more.Have a great weekend.ADVERTISEMENT - CONTINUE READING BELOWMust ReadWhat is tradeCompass at investingLive.
com: Trading methodolgy explained and how traders can utilize itMarket outlook for the week of August 31st - September 4thWhat are the main events for today?IRGC claims that a supertanker has caught fire after being struck by naval mines in Strait of HormuzHeads up: Germany states' CPI readings due later todayGold extends slide as hawkish Warsh hangover weighs on sessionA pop for yen despite USD/JPY weakening earlier past 160 as Warsh's hawkish tone clashes with BessentChina factory activity beats forecasts but stays in contraction in AugustOil prices have jumped higher after US attacked Iran and Iran retailiatedNasdaq Analysis Today: NQ Bulls Face a Decisive 29,800 TestMeta and US states agree to settle claims that platforms harmed childrenIndian Rupee rebounds on suspected RBI intervention; strong dollar and higher oil prices remain a headwindSwiss bankers expect SNB to maintain zero policy rate through to next yearOil prices jump as US and Iran exchange strikes; prolonged stalemate keeps the downside limitedStock market analysis shows Q3 earnings sentiment stays selective after Nvidia rally and Marvell dropBitcoin Price Analysis September 2026: Key BTC Reversal LevelsiFX EXPO Asia 2026: Hong Kong Set to Welcome 5,000+ Global Trading and Fintech Professionals This OctoberGold erases most of the Treasury-led gains as Fed Chair Warsh retightens financial conditionsThis gold analysis may be showing new gold buyers coming in todayThe USD is lower vs major currencies. In the video, I ake a look at the EURUSD, USDJPY and GBPUSD to kickstart the weekTrump: Iran has no Navy and Air Force.
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