Armand Hallstrom pDnF

Macquarie analysts recently wrote that Federal Reserve Chairman Powell is expected to strike a dovish tone when he speaks at the Jackson Hole Economic Symposium, but is unlikely to be overly dovish.
Macquarie analysts also stressed that Powell's tone, as well as upcoming data and political developments, could influence the direction of the dollar in the coming weeks.
Specifically, they noted: “We would not be surprised by a dovish tone from Powell, which could have implications for FX markets and investor sentiment.” They added: “However, we doubt that Powell would be so bold as to sound very ‘dovish’.”