Not much happening today. Markets lack direction and momentum. US manufacturing data is the focus

This is Brad Goodwood with today's trading action. All right, now look at the currencies. There's not a lot going on, right? Kevin Walsh, the Fed chairman, came out over the weekend at the Jackson Hole Symposium, said the Fed may need to raise rates. Everything, the dollar sort of screamed topside and everything else went down, like sterling, euro, Aussie, everything had a little bit of a nosedive, right? And now everything's settled down, right? A couple of days have gone past. Then they sort of realise it's more of a may, not they are going to raise rates. So the dollar is just giving up a little bit of ground here. But what does that do for us? Well, today there's not much going on, right? And we're sort of been back within recent ranges. So there's no really massive bias in the market, right? And you can see that if you look at the live signals, you go down through the major currency pairs. I mean, there is one little bit of shining light and that is dollar Swiss, which has been holding in there. But just bear in mind that dollar Swiss, you are looking at really poor trading conditions at the moment, okay? That's enough for me to walk away from the market. I've had a look, looked across the board, didn't like what I see. And then the last piece of the puzzle is having a look at the economic calendar. And if I just come up and hit the medium or even high impacting numbers, you look at the stuff today, there's some really subtle CPI numbers out of the Eurozone, probably worth a bit of a look. The US manufacturing numbers is probably the one thing that you wanna look at. And that sets us up for tomorrow. We've got RBNZ and a few other things, but not much today. I wouldn't be wasting my time sitting in front of the screen waiting for something to happen. Like the market has repositioned itself after Kevin Walsh, right? Now what we need is some bigger numbers to really give us some clear direction. Because at the moment, we don't really have that momentum and direction lining up for us. And as I said, that's clearly obvious in the signals. So make sure you just have a look around, right? See what's going on. The interest rate tracker, there's a few central bank meetings this week. Don't get overexcited about those. ECB is 100%, RBNZ 100%. Bank of Canada, 93% on hold. That means there's not much activity there, right? There's been a bit of a shift in the markets, but overall, not a lot, right? As I was saying, the signals are very mixed, right? And that is what you should take away from that is it's not awesome conditions, right? It is flickering between sort of a risk-off, but largely it has been changing between like a bit of a risk-off day and poor trading conditions, okay? All right, guys, that's it for me. Have a good one. All the best. Cheerio.