Markets Eye Jackson Hole, Nvidia Earnings, and PCE Data in Key Week

Ultima Markets Daily Market Insights – 24 August 2026

Calm Start Before Mid-Week Macro Storm

Reviewing last week’s price action, a persistent rise in long-dated U.S. Treasury yields compressed risk appetite, causing broad U.S. equities and the U.S. Dollar to weaken in tandem. Conversely, spot Gold capitalized on defensive safe-haven flows to stage a counter-trend surge.

Entering this week, global financial markets are stepping into the most critical stretch of late summer, with three blockbuster catalysts looming on the horizon:

• Nvidia Earnings: Crucial for setting the tone across technology mega-caps and validating broader AI-trade sentiment.
• Jackson Hole Economic Symposium: Central bank signals will offer key guidance on the Fed’s policy trajectory for September and beyond.
• U.S. PCE & GDP Data: Key economic prints to solidify market expectations ahead of the upcoming September FOMC rate decision.

For Monday’s session, overall market trading is expected to remain relatively quiet due to a light economic calendar. Ahead of these high-impact catalysts, short-term price action will likely present a temporary phase of technical consolidation and range-bound position adjustment.

FX, Commodities & Equities Insights

Dollar Index (USDX): Below 99.00 Keeps Bearish Bias Intact

The U.S. Dollar Index remains under structural selling pressure following its recent technical breakdown. However, as recent 98.50 support came into play with strong short-term price action, expect some rebound.

USDX, H2 Chart | Ultima Markets MT5

Having broken decisively below the 99.00 psychological support floor, the Dollar maintains a firm downside bias. Technically, immediate downside support rests at 98.50 with price action suggesting a potential short-term rebound, while overhead resistance has shifted to the 99.00 region.

Traders should monitor short-term intraday rebounds as potential sell-on-rally opportunities while USDX stays capped beneath major resistance.

U.S. Equities: Friday Rebound Offers Breather; Yield Headwinds Limit Upside

U.S. equity benchmarks closed higher last Friday, but rising long-term Treasury yields continue to dictate broader technical caution.

While Friday’s bounce provided short-term relief, elevated long-dated bond yields continue to weigh on valuations. Price action across major benchmarks, including the Nasdaq 100, remains locked in a cautious, range-bound consolidation pattern until corporate earnings and Fed policy rhetoric clarify the macroeconomic outlook.

NAS100, H4 Chart | Ultima Markets MT5

Technically, the Nasdaq 100 continues to trade below the 29,700 – 30,000 resistance area, keeping its near-term downtrend intact. While 29,200 provides imminent support, a break below this level would keep the near-term outlook biased to the downside.

Added to that, the current macro headwinds remain unfavorable for U.S. equities, particularly the technology sector. Traders will watch to see if upcoming Nvidia earnings can relieve this pressure.

Gold: Bullish Extension Confirmed Above $4,500

Precious metals continue to show strong structural momentum, supported by yield dynamics and defensive allocation. Gold’s decisive breakout above the $4,500 psychological threshold has confirmed its broader bullish structure.

XAUUSD, H2 Chart | Ultima Markets MT5

Technically, the $4,500 – $4,535 region has now flipped into a primary structural support zone, while the psychological level near $4,600 offers reference for dip-buying setups with the next upside expansion target pointing toward $4,700.

Market Summary & Key Highlights Today

With no high-tier economic data scheduled for today, global markets are expected to trade quietly within established technical ranges ahead of mid-week catalysts.

What to Watch Today:

• U.S. Dollar Index Near 99.00: Monitor intraday retests of 99.00 as new resistance and observe if the 98.50 rebound fades.
• Gold Support Floor at $4,500–$4,535: Watch for dip-buying interest above $4,500 to sustain the bullish leg toward $4,600 and $4,700.
• Nasdaq 100 Resistance at 29,700–30,000: Track whether tech sellers maintain control below 30,000 or if 29,200 support is tested.
• U.S. Treasury Yield Trajectory: Observe whether long-dated bond yields stay elevated, keeping equity valuations under pressure.
• Pre-Catalyst Positioning: Monitor overall market sentiment ahead of mid-week Nvidia earnings and Jackson Hole headlines.

Disclaimer

Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.