Asia set to open near flat ahead of major speech from Fed Chair Powell

Fed Chair Jerome Powell is set to deliver a speech at a yearly central banking symposium in Jackson Hole, Wyoming.

on Thursday when Seoul said it is cancelling an intelligence-sharing pact with Tokyo amid a bitter trade dispute.Fed's Powell is set to deliver a speech at a yearly central banking symposium in Jackson Hole, Wyoming. Investors will look for clues about what the U.S. central bank would do next. Analysts say markets have fully priced in a possible rate cut in September. Fed cut rates by 25 basis points in July, citing "global developments" and "muted inflation.

"Interest in the Powell speech will be in whether he maintains the line that last months' action represented no more than a "mid-cycle" adjustment or "insurance" cut," Ray Attrill, head of foreign exchange strategy at the National Australia Bank, said in a morning note. "We presume Powell will want to convey an open-minded view about the outlook for monetary from here without pre-committing to any set course, but whether he will be suitably dovish enough for the market will be key to the market reaction," Attrill added.

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