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Warsh’s Hawkish Stance Boosts Rate Bets Ahead of Jobs Report This Week
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(By ATFX Analyst Team)
Key Takeaways
Global Market Review 31/08/2026
Key Events Today:
Sep 1 (GMT+8)
Markets Analysis 31/08/2026
EURUSD
Warsh’s remarks lifted the dollar, pushing EUR/USD to its lowest since August 19, holding near one‑week lows. Market focus shifts to Germany’s CPI.
Analyst View: Broke below the 10‑day MA on Friday, now hovering just under the 20‑day MA. This level is key to defending 1.1600. Failure to reclaim could see bears drive below 1.1550.
Bias: Under Pressure
GBPUSD
Warsh’s hawkish stance weighed on GBP/USD, with the pair recording its largest drop in over a month. UK holiday leaves sterling partly influenced by German data.
Analyst View: After three days of declines, now testing the 20‑day MA. A confirmed break would pressure toward 1.3500.
Bias: Under Pressure
USDJPY
Treasury Secretary Bessent said the yen has not been intervened in recently. USD/JPY broke consolidation Friday, posting its largest gain in over a week.
Analyst View: Price broke above the range top and is testing 160. A sustained hold above strengthens bullish momentum; a rejection could trigger a pullback below 159.80.
Bias: Mildly bullish
US Crude Oil Futures (OCT)
Oil fell on Friday as traders assessed Fed policy and rumours about the Strait of Hormuz. Prices rebounded early Monday after a U.S. strike on an Iranian island prompted Tehran retaliation.
Analyst View: Gapped higher, back above 10‑day MA. Holding above target $87, last week’s high.
Bias: Mildly bullish
Spot Gold (XAU/USD)
Spot Silver (XAG/USD)
Warsh’s hawkish remarks made inflation the Fed’s top priority, lifting September hike bets and driving gold sharply lower Friday.
Analyst View: Largest daily drop since June, broke below 10‑day MA, now testing 20‑day MA. Short‑term pressure, but support at the 20‑day MA could enable a rebound.
Bias: Slightly Under Pressure
Dow Jones Futures
U.S. indices fell Friday as Warsh reaffirmed the inflation fight, raising expectations for further rate hikes. Dow’s decline was modest.
Analyst View: Range not expanded but remains pressured. Testing 10‑day MA, likely consolidating between 10‑ and 20‑day MAs.
Bias: Range consolidation
NASDAQ 100
Tech stocks mostly rose on Friday, but Nvidia fell 4.57%, weighing on Nasdaq. The index retreated after hitting an intraday one‑week high.
Analyst View: Holding near 29,400 where 10‑ and 20‑day MAs converge. Watching breakout levels; short‑term bias is consolidation.
Bias: Range consolidation
Bitcoin (BTC/USD)
Bitcoin fell below $77,000 after Warsh’s hawkish Jackson Hole speech warning that inflation remains too high.
Analyst View: After recovering from highs, BTC/USD attempted a recovery over the weekend, back above $77,000. Still capped by 10‑day MA resistance, short‑term bias is range consolidation.
Bias: Under Pressure
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About the author
Martin Lam
Martin Lam is ATFX Chief Analyst for Asia Pacific, with over 20 years of experience in global forex and investment markets. He holds a degree in Finance and Economics from Deakin University and has held senior roles at leading FX brokerage firms.
More from Martin Lam
Bitcoin Tops $80,000 as Tech Rally Lifts Risk Appetite Ahead of Fed
Yen Edges Higher as Hormuz Hopes Offset Stronger US Dollar
Gold Hits Three-Month High as Falling Yields and Trade Tensions Boost Demand
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Bitcoin climbed back above $80,000 on Thursday as a powerful rally in US technology
The Japanese yen edged higher in Asian trading on Thursday, trimming a three-day decline
Gold climbed to its highest level in more than three months on Tuesday as
Crude oil prices fell on Monday as a modest recovery in shipping through the
(By ATFX Analyst Team) Key Takeaways The U.S. expanded secondary sanctions on Iran, aiming
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