Gold also rises ahead of crucial talks between US president, Ukrainian president and European leaders
The main economic event this week is the US Federal Reserve’s Jackson Hole symposium in Kansas from Thursday until Saturday, whose theme is: ‘The policy implications of labour market transition’.
Fed chair Jerome Powell is due to the speak on the economic outlook and central bank policy.
Andrew Hollenhorst, chief economist at Citi Research, said:
Chair Powell will likely signal that risks to the employment and inflation mandates are coming into balance, setting up the Fed to resume returning policy rate to neutral.
