PANews, citing Jin10, said shifts in Federal Reserve policy expectations dominated trading this week. After remarks from Fed Chair Waller on Friday, the U.S. dollar jumped in the short term and finished at 99.69, up 0.85% for the week. Higher Treasury yields and a firmer dollar weighed on precious metals, with gold down 3.24% on the week and spot silver off 3.82%. The upcoming week centers on a dense macro calendar. Key releases include eurozone August CPI and July unemployment on Tuesday, followed by U.S. August ISM manufacturing PMI, July JOLTs job openings, and July construction spending. Wednesday brings U.S. August ADP employment and July factory orders. Early Thursday, the Federal Reserve will release its Beige Book, while later that day the market will watch eurozone services PMI, PPI, U.S. weekly jobless claims, and an interview with Fed Governor Christopher Waller. Friday’s U.S. August employment report is described as the main event. It will be the final jobs reading before the Sept. 16 policy meeting and a key test for the policy path after Waller’s hawkish stance. The report will include the unemployment rate, nonfarm payrolls, and average hourly earnings. Investors are also tracking earnings from Dell and Broadcom after Nvidia’s strong results and its roughly 70% revenue growth outlook for the next fiscal year revived enthusiasm around the AI trade.

According to Jin10, this week’s market tone was driven by shifting expectations for Federal Reserve policy. After Fed Chair Warsh spoke on Friday, the dollar jumped intraday and finished at 99.69, up 0.85% for the week. Treasury yields and the stronger dollar weighed on precious metals, with gold down 3.24% on the week and spot silver falling 3.82%. Markets will then turn to a packed calendar in the new week, including the G20 finance ministers and central bank governors meeting, eurozone CPI and unemployment data, U.S. ISM manufacturing PMI, JOLTS job openings, construction spending, ADP employment, factory orders, the Fed’s Beige Book, weekly jobless claims, and Friday’s U.S. August jobs report. That payrolls release is the last employment data before the Sept. 16 policy meeting and will be watched closely after Warsh’s hawkish comments. The calendar also includes Nvidia’s strong results and roughly 70% next fiscal-year revenue growth outlook, which helped revive AI trading interest, plus post-close earnings from Dell on Sept. 1 and Broadcom on Sept. 2.

Federal Reserve Chair Kevin Warsh, in his first speech since taking office, told the Jackson Hole symposium that inflation at 3.3% remains well above target and signaled that a September rate hike is possible. Markets read the remarks as hawkish, lifting the probability of a September hike to about 60%. This year's conference theme, "Financial Innovation and Payment Policy Implications", broadened the agenda beyond rates. Participants also discussed tokenized assets and artificial intelligence's macro impact on financial stability. Warsh called for less forward guidance in the Fed's communication strategy, and US stocks fell while Treasury yields rose after the speech. The address marked his debut at the annual central bank gathering. Market pricing moved toward tightening expectations following the remarks. The combination of an inflation reading still far above target and a reduced emphasis on forward guidance weighed on equities and pushed bond yields higher.

Economists expect the U.S. Bureau of Labor Statistics to report that nonfarm payrolls rose by 55,000 in August, after an unexpected decline in July, with the unemployment rate holding at 4.1%. Analyst Anna Wong said Waller's hawkish remarks at Jackson Hole raised the odds of a September rate hike and changed how markets may read next week’s data. She added that the expected weakness in the jobs report may no longer carry the same weight it usually does. Waller described the labor market as healthy and said slower job growth is often a demographic issue rather than a sign of recession.

According to a ChainCatcher report, economists expect the U.S. Bureau of Labor Statistics' monthly jobs report, due Friday, to show August nonfarm payrolls increased by 55,000. That would follow an unexpected decline in July. If the forecast holds, the gain would be roughly in line with the average monthly increase seen this year. The unemployment rate is projected to remain at 4.1%. Analyst Anna Wong commented that Warsh's hawkish speech at Jackson Hole raised the probability of a September rate hike and altered market expectations for how next week's data should be read. She noted that while the August employment report remains the headline release, the anticipated weak outcome may not be as decisive as usual. Warsh, for his part, described the labor market as fundamentally healthy and suggested that slower job growth typically stems from demographics rather than an economic downturn. The August payroll report remains the top data point, though its expected softness could carry less weight than in prior months, according to Wong. Warsh characterized labor market conditions as good, pointing to demographic factors as a common explanation for decelerating job gains instead of recession signals.

The Federal Reserve’s annual Jackson Hole symposium ended with markets fixated on Chair Kevin Warsh’s clearest policy message since taking office. In his keynote, Warsh said bringing inflation down remains the Fed’s top priority and stressed that the 2% target, measured by the personal consumption expenditures price index, is a fixed objective. He warned that if core inflation is not moving clearly and fast enough toward target, the Fed still has "work to do," a line that pushed near-term rate-hike expectations higher and shifted attention to the Sept. 11 consumer inflation release and the Sept. 15-16 policy meeting. Officials from Europe also added to the hawkish tone. According to Bloomberg, European Central Bank Governing Council member and Slovenian central bank chief Primoz Dolenc said euro-zone resilience and ongoing conflict in the Middle East point to the need for a September increase. Austrian central bank governor Martin Kocher also said there was "more momentum" in the economy as analysts estimated August euro-area inflation at 3.3%. By contrast, Bank of England Governor Andrew Bailey struck a more measured note, saying the U.K. was seeing fairly mild second-round inflation effects and that policymakers could keep watching conditions. The symposium also featured discussion of tokenization, financial innovation and their implications for payments systems and monetary policy. At the same time, political pressure around Federal Reserve Governor Lisa Cook resurfaced before the event, while ECB President Christine Lagarde, Bank of Japan Governor Kazuo Ueda and former Fed Chair Jerome Powell were among the notable absentees.

CME FedWatch data on Aug 30 showed the probability of a 25-basis-point rate hike in September at 57%, with odds of holding rates steady at 43%. The shift follows a more hawkish-than-expected speech by Kevin Warsh at Jackson Hole on Friday evening. Warsh signaled the Fed could raise rates again if inflation does not return to 2% at a clear and sufficiently fast pace. Before the September FOMC meeting, one nonfarm payrolls report and one CPI inflation report are still due, along with some secondary data releases. With recent U.S. jobs reports missing expectations by wide margins, any further weakening signal could significantly undermine market expectations for a September hike.

Bitcoin that had not moved for 10 years or longer is becoming active at a pace rarely seen, according to fresh data from Galaxy Research. The firm’s chart, which tracks yearly activity by age cohort since 2012, shows a visibly larger share of 10-year-and-older coins moving in 2026 even though the year is not yet complete. Galaxy said six wallets dormant since 2011, 2012, and 2014 moved a combined 553.59 BTC between Aug. 16 and Aug. 26, worth about $40.15 million. Among the transfers, one wallet moved 212 BTC that had sat untouched since August 2012, while another shifted 10.74 BTC dormant since June 2011. A separate 40 BTC transfer, last active in May 2012, was sent to German custody bank Boerse Stuttgart Digital. The report says some reactivated wallets carry a “Salomon Client Dusted” tag linked to the Noah Doe lawsuit in New York, which seeks to classify roughly 39,069 dormant addresses as abandoned property. Galaxy also pointed to the Coldcard hardware-wallet exploit, during which about 233,000 BTC left long-term wallets. The activity comes during a volatile market stretch. Bitcoin fell to as low as $76,877 on Friday after Federal Reserve Chair Kevin Warsh struck a hawkish tone at Jackson Hole. Even so, U.S. spot Bitcoin ETFs pulled in $2.8 billion over eight straight days through Wednesday, while Myriad prediction-market traders still favored a move toward $84,000 over a drop to $55,000.