August 29, 2012: Overview

Markets are firmly stuck within recent ranges as traders from every single market around the world wait on Bernanke’s Jackson Hole speech. It was announced at the last minute that ECB Governor Mario Draghi would not be making the trip, leaving many to speculate that he must be busy at work fine-tuning the last details of his own bond-buying programme. Weak trading volume is being reported across the board, further adding to the complacent nature of recent price action.