While Jerome Powell's speech at the Jackson Hole symposium is important, but the speeches of several other figures are also worth noting.

Market sentiment has seen a recovery at the beginning of this week. A series of negative news from China had triggered safe-haven buying and boosted the US Treasury yield rally last week, but the unease seems to have slightly subsided. The US Dollar Index (DXY) was observed retracing from the highs reached on Friday to reach the range of 103.00 at the end of the Asian session on Tuesday (August 22nd). Market volatility has diminished ahead of the Jackson Hole Symposium.

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Investors eagerly anticipate the standout event of the week: the Jackson Hole Symposium, scheduled to take place from August 24th to 26th, hosted by the Federal Reserve Kansas City. With central bank leaders from different nations in attendance, this event holds the potential to influence not just the US dollar exchange rate but also exert a broader impact on the global financial markets.

While the attention is currently centered on the speech by Fed Chair Jerome Powell at the Jackson Hole Symposium, there is a viewpoint among some analysts that Powell's statements might not carry the expected level of significance.

Karl Schamotta, Chief Market Strategist at Corpay, suggested that the speech by Christine Lagarde (President of the ECB) at Jackson Hole could potentially impact the market more than Powell's. As quoted from Reuters, he mentioned that if Powell remains consistent with his approach, it could reduce dollar volatility and result in a more subdued response.

Amo Sahota, Director of Klarity FX, commented that the struggle against inflation remains ongoing. He expressed the opinion that the Fed has consistently emphasized this perspective. He said there is doubt that they would reverse their stance and declare, "We've finished raising interest rates." Sahota emphasized the necessity for them to acquire additional data, which, in his view, is currently inadequate.

The latest FOMC meeting minutes indicate that a majority of the top officials at the Fed agreed to raise interest rates by 25 basis points. However, several meeting participants emphasized caution in deciding future interest rate policies. There is a risk that inflation remains high, which might require further interest rate hikes. Additionally, there is a risk of the economic conditions deteriorating significantly due to excessive interest rate increases.