Market Brief: No Fireworks From Fed Minutes, Retails Rejoice

 | Aug 22, 2019 04:30AM ET

  • FX: Yesterday’s trade had a slight risk-on flavor, with the risk-sensitive loonie and Aussie leading the way higher among the majors and the “safe haven” Swiss franc bringing up the rear. The Canadian dollar was boosted in part by hotter-than-expected CPI data 2.0% y/y vs. 1.7% eyed).
  • Traders ramped up preparations for affirmed the Fed’s relatively optimistic domestic/cautious global outlook and raised the stakes for Friday’s Jackson Hole speech by Fed Chairman Powell.
  • Commodities: Both gold and oil fell by less than 1% on the day.