There aren’t as many major risk events on the calendar this week as there were last week. And that means market participants won’t have too much to do for now. The main things to watch out for are the Fed speech, as traders digest last week’s important US data, and also considering that the Jackson Hole symposium is coming up soon.

The minutes of the FOMC meeting will be released on Wednesday, but as for the economic calendar, we will have to wait until Thursday for the PMI data and the weekly US unemployment figures, so traders may remain somewhat unsettled in the coming sessions.

However, the Japanese yen is the most notable mover today, with the Nikkei falling 1.8%. USD/JPY previously fell to a low of 145.18, but is now trading around 100 pips above that.

The pair is moving back into its recent consolidation range after breaking above 145.00 earlier this month. And as mentioned here, the decline in bond yields is also weighing.

As for risk sentiment today, traders and investors are not very convinced. European indices are little changed, showing marginal gains at best. Meanwhile, US futures are still flat, showing little movement since earlier trading in Asia.