Forex news for North American trading on August 27, 2021
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The forex markets (and other markets for that matter) have been tending to go from key event to key event.  This week, it was the keynote address from Fed Chair Powell at the Jackson Hole virtual summit.  

Comments from the Fed Governor
Waller has hinted at wanting to taper previously so his comments aren’t a surprise but it’s odd to see a Governor drift so far from the core of the FOMC. He has previously said he wants to see one more strong jobs report, so that’s nothing new.

S&P has its best day in more than a month
The final numbers are showing:

Natural gas up another 4.5% today
A tight US storage report yesterday sent natural gas prices into overdrive, spiking 6% yesterday and another 4.5% today.
Prices at Henry Hub are at $4.37 per MMBtu, which was a pipedream a year ago when they were at $1.80.

New record highs for the NASDAQ and S&P
Both those indices are trading at record levels.
The Dow industrial average is up around 258 points or 0.73% at 35470, but is still below its 35631.19 high reached on August 16.

Forex news from the European trading session – 27 August 2021
Headlines:
Markets:
– AUD leads, JPY lags on the day
– European equities mixed; S&P 500 futures up 0.3%

A look at what is on the board for today
Just a couple of big ones for EUR/USD today, as highlighted in .
bold
That said, price action remains more muted ahead of Jackson Hole, holding above key near-term levels at 1.1750 while below 1.1800. That is likely to see the current range hold out before the expiries

Dollar trades back to being little changed on the day
The greenback is trading pretty much flat across the board now, with only some mild weakness (even then it’s a stretch) against the aussie.

Remarks by Atlanta Fed president, Raphael Bostic
– Reasonable to trim bond purchases in October if US job gains stay strong
– Thinks „substantial progress“ benchmark to start tapering would be met if August job gains match those in June, July
This adds to the chorus of hawkish remarks by Fed policymakers yesterday .

It has been a solid rebound in CAD/JPY this week
The early week momentum was quelled in trading yesterday but the pair sits in a good spot ahead of Jackson Hole as overall risk sentiment remains steadier.