Last Friday brought another downbeat session in Wall Street, with the S&P 500 adding to recent losses to close 1.4% lower for the week.

Fed Chair Jerome Powell reiterated his hawkish tone but Wall Street seems to be taking it in stride this time, with the S&P 500 and Nasdaq overturning their three-day losing streak.

Fed Chair Jerome Powell took the stage yesterday with a series of hawkish comments but nevertheless, a significant degree of data-dependence is still in place.

Major US indices kicked off the shortened trading week in the red, although the sharp paring of losses mid-day especially in the Nasdaq may still reflect some strength in buyers.

The US markets will be back online today to set a clearer backdrop for the risk environment.

With the conclusion of the recent Federal Open Market Committee (FOMC) meeting, a series of hawkish Fedspeak is lined up on the horizon.

Wall Street looks set to deliver its fifth consecutive week of gains, pushing ahead with another round of stellar gains overnight.

The conclusion of the June meeting has seen the Fed keeping rates on hold in a widely-anticipated move, but a high-for-longer rate outlook seems to be on the horizon.

The softer US economic calendar overnight prompted market participants to source for clues on the Fed’s policy path from the US weekly jobless claims.

A quiet US economic calendar overnight shifted much of the market focus to Bank of Canada (BoC), who became the second central bank to deliver a hawkish surprise this week.