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Kospi slips as Jackson Hole risk builds on 28 August 2026

Kospi Pulls Back as Copper Eases and Corn Hits a Three-Year High | Technical Analysis | Asian Session | 28 Aug 2026

August 28, 2026
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Asian Session Report — Friday, 28 August 2026 | Capital Street FX Skip to main content
Friday, 28 August 2026  ·  Asian Session Technical Analysis — Live Update, Refreshed Intraday

Kospi Pulls Back From Its Record High, Copper Eases Further and Corn Hits a Three-Year High, as Traders Brace for Fed Chair Kevin Warsh’s First Jackson Hole Keynote

USD/JPY · NZD/USD · Copper · Corn · Kospi · Cardano · Solana — live Asian market outlook today, updated through the trading session

Asia-Pacific markets are trading cautiously on Friday, with regional equities broadly mixed as investors square positions ahead of Fed Chair Kevin Warsh’s first Jackson Hole keynote later today, even as Wall Street closed sharply higher overnight on blowout earnings from Nvidia and Salesforce. South Korea’s Kospi has slipped around 1%, retreating toward 6,830-6,870 as foreign and institutional investors book profits and pull the index back from Thursday’s close near 6,912 and well off its all-time closing high of 8,788.38 struck in June, even though chip suppliers SK Hynix and Samsung Electronics remain direct beneficiaries of Nvidia’s upgraded outlook. In FX, USD/JPY is holding a tight range near 159.20-159.35, inside Thursday’s 159.12-159.52 band, as prediction-market odds of a 25-basis-point Bank of Japan hike at the 17-18 September meeting continue to sit close to 84-87%, keeping the pair capped even as broad Dollar demand persists into tonight’s keynote. NZD/USD has slipped toward 0.5950-0.5967, pressured by fresh US sanctions targeting Iran’s oil revenues and weapons procurement network that have soured broader risk appetite, even as the Reserve Bank of New Zealand remains widely expected to hike again in September. In commodities, Copper has eased further to around $6.55-6.60 per pound, extending its retreat from Tuesday’s all-time COMEX settlement high of $6.7115 as a continued build in LME and SHFE exchange inventories eases fears of near-term supply tightness, even as flooding at the Kamoa-Kakula complex in the Democratic Republic of Congo threatens to cut Zijin Mining’s output by up to 57,000 tons this year. Corn has surged to around 537-538¢/bushel, its highest level since 2023, after the Pro Farmer Crop Tour estimated the 2026 US corn yield at just 173.2 bushels per acre, well below the USDA’s own forecast of 180.7 bushels, pointing to a meaningfully tighter supply picture into harvest. Crypto markets are firmer, with Solana extending its rebound toward the $104-108 zone on record Solana ETF inflows of $1.22 billion, while Cardano has climbed to around $0.213-0.215, up roughly 3.5% on the day, as T. Rowe Price’s addition of ADA to its Active Crypto ETF underpins fresh institutional interest. The dominant theme for the remainder of the day is Fed Chair Kevin Warsh’s debut Jackson Hole keynote, scheduled for 10:00am ET (late Friday night in Asia), which caps the three-day Economic Policy Symposium and is widely seen as the single biggest swing factor for the Dollar, the Yen and global risk appetite heading into the weekend. Ready to act on today’s setups? Open an Account with Capital Street FX.
Section 1 · Live Market Headlines

Asian Market News — Live Now, 28 August 2026

Top-moving headlines shaping the Asian market outlook today, updated through the morning

Critical

All Eyes on Fed Chair Warsh’s Debut Jackson Hole Keynote Tonight

Fed Chair Kevin Warsh delivers his first Jackson Hole keynote at 10:00am ET on Friday, capping the three-day Economic Policy Symposium themed around payments innovation. Traders care less about the CBDC agenda than about any signal on the Fed’s reaction function, with September rate-hike odds currently sitting near one-in-three and the speech expected to drive most of the day’s volatility across the Dollar, Treasuries and risk assets.

Central Banks
Critical

Kospi Slips as Foreign Selling Overshadows Nvidia’s Blowout Beat

South Korea’s Kospi fell around 1% in early trade to near 6,846, as foreign and institutional investors extended net selling despite sharp overnight gains on Wall Street led by Nvidia and Salesforce. Large-cap chip names including SK Hynix and Samsung Electronics traded lower even as their direct exposure to Nvidia’s upgraded AI outlook should be a structural tailwind, with investors reluctant to add risk ahead of tonight’s Warsh keynote.

Equities
Critical

Jackson Hole Enters Its Final Day With a Rare Dual-Hike Backdrop

The Kansas City Fed’s Jackson Hole Economic Policy Symposium runs through Saturday, but Friday’s keynote from Warsh is the standout event. Unusually, both the Federal Reserve and the Bank of Japan face live rate-hike speculation into their respective September meetings — Fed odds sit near one-in-three while BOJ September hike odds sit near 84-87% — leaving genuine two-way risk for the Dollar and the Yen alike.

Macro
High

Corn Jumps to Its Highest Level Since 2023 on Weak Crop Tour Yields

Corn futures have climbed to around 537-538¢/bushel, the highest print since 2023, after the Pro Farmer Crop Tour pegged the 2026 US corn yield at 173.2 bushels per acre, well below the USDA’s 180.7-bushel forecast. The USDA’s own crop report added to the bullish tone, showing the share of corn rated good-to-excellent falling three points to 57% for the week ended August 23.

Commodities
High

Copper Extends Its Slide From Record on Rising Exchange Stockpiles

Copper has eased further to around $6.55-6.60 per pound, retreating from Tuesday’s all-time COMEX settlement high of $6.7115 as LME-monitored inventories run about 16% above their February low and SHFE stockpiles jumped 28.4% last week. Zijin Mining’s warning that flooding at the Kamoa-Kakula complex in the DRC could cut its output by up to 57,000 tons this year is a partial offset to the bearish inventory story.

Commodities
Medium

Kiwi Dollar Softens as Fresh US Sanctions Rattle Risk Appetite

NZD/USD has slipped toward 0.5950-0.5967 after Washington expanded sanctions targeting Iran’s oil revenue and weapons-procurement network, souring broader risk sentiment even as the Reserve Bank of New Zealand remains widely expected to hike again in September on persistently elevated inflation. Solana and Cardano are both firmer, with Solana extending its rebound on record ETF inflows and Cardano climbing roughly 3.5% on fresh institutional interest.

Crypto & FX

Live · Updated through the Asian morning session, Friday 28 August 2026

Section 2 · Economic Calendar

Asian Economic Calendar This Week — 28 August 2026

Key releases and events shaping price action through the rest of the week

Asian economic calendar for the week of Friday, 28 August 2026, listing scheduled times, events, expectations, impact level and market read.
Time Event Forecast / Detail Impact Market Read
🇺🇸Friday, 28 August, 10:00am ET Fed Chair Kevin Warsh’s First Jackson Hole Keynote Delivered at Jackson Lake Lodge, Wyoming; theme is payments innovation 🔴 CRITICAL The single biggest swing factor for the Dollar, the Yen and global risk appetite this week
🌈Today (Asian Morning) Kospi Retreats From Record High on Profit-Taking Kospi down around 1% near 6,830-6,870, off Thursday’s 6,912 close 🔴 CRITICAL Foreign and institutional selling is offsetting Nvidia’s direct read-through to chip suppliers
🇺🇸Thu-Sat, 27-29 August Jackson Hole Economic Policy Symposium Central bankers from more than 70 countries gather in Wyoming 🔴 CRITICAL Sets the tone for global monetary policy into the September FOMC and BOJ meetings
🇯🇷This Week BOJ Officials’ Public Remarks September hike odds holding near 84-87% per prediction-market pricing 🔴 CRITICAL Any pushback against the aggressive hike pricing would be a fresh Yen catalyst
🇺🇸Overnight (US Close, 27 Aug) Nvidia and Salesforce Earnings Lift Wall Street S&P 500 +0.72%, Nasdaq +1.57%, Dow +0.20% 🔴 CRITICAL Strong AI-linked earnings are the key support for regional chip suppliers into the weekend
🇺🇸This Week (Released) Pro Farmer Crop Tour — 2026 Corn Yield Estimate 173.2 bushels/acre vs USDA forecast of 180.7 bushels/acre 🟢 MEDIUM Weaker-than-expected yields are the dominant driver behind Corn’s push to three-year highs
🇮🇷This Week Fresh US Sanctions on Iran Expanded secondary sanctions across five sectors of Iran’s economy 🟢 MEDIUM Keeps a mild risk-off premium weighing on the Kiwi Dollar and other high-beta currencies

Section 3 · Trade Ideas

Asian Session Trade Ideas — USD/JPY Forecast Today and More

Technical setups and fundamental context across the session’s seven key instruments

USD/JPY

FX · ~159.30 — Range-Bound Into Tonight’s Warsh Keynote
159.30
▲ Steady, capped by firm BOJ hike pricing ahead of the keynote
▪ BEARISH USD/JPY — Sell Rallies Toward 160.50, Target the 156.50 Zone
Sell Rally160.50
Stop Loss162.00
Take Profit156.50

Why This Setup

BOJ September hike odds near 84-87% cap the pair’s upside, though tonight’s Warsh keynote is a genuine source of two-way risk that could overwhelm the BOJ story either direction.

USDJPY chart
Chart by TradingView

NZD/USD

FX · ~0.5958 — Softer on Fresh Iran Sanctions and Risk-Off Tone
0.5958
▼ Pressured by risk-off flows despite hawkish RBNZ expectations
▪ BEARISH NZD/USD — Sell Rallies Toward 0.6010, Target the 0.5820 Zone
Sell Rally0.6010
Stop Loss0.6060
Take Profit0.5820

Why This Setup

Fresh US sanctions on Iran and a firmer Dollar into the Warsh keynote are genuine headwinds, though widely expected RBNZ September hike odds are a real source of two-way risk.

NZDUSD chart
Chart by TradingView

Copper

Commodities · ~$6.57/lb — Extending Its Slide From Record High
$6.57
▼ Easing on rising LME and SHFE exchange inventories
▪ BULLISH COPPER — Buy Dips Toward $6.35, Target the $6.80 Zone
Buy Dip$6.35
Stop Loss$6.15
Take Profit$6.80

Why This Setup

Flooding risk at Zijin’s Kamoa-Kakula complex is a genuine supply-side tailwind, though the ongoing build in exchange inventories is a real source of two-way risk near term.

COPPER chart
Chart by TradingView

Corn

Commodities · ~538¢/bushel — Highest Level Since 2023
538.0¢
▲ Sharply higher on weak Pro Farmer Crop Tour yield estimates
▪ BULLISH CORN — Buy Dips Toward 520¢, Target the 560¢ Zone
Buy Dip520.0¢
Stop Loss505.0¢
Take Profit560.0¢

Why This Setup

The Pro Farmer Tour’s below-consensus yield estimate is a genuine tailwind for the supply outlook, though any favourable late-season weather is a real source of two-way risk.

CORN chart
Chart by TradingView

Kospi

Index · ~6,847 — Pulling Back From Its Record High
6,847
▼ Down ~1% on foreign and institutional profit-taking
▪ BULLISH KOSPI — Buy Dips Toward 6,700, Target the 7,100 Zone
Buy Dip6,700
Stop Loss6,550
Take Profit7,100

Why This Setup

Direct chip-supply-chain exposure to Nvidia’s upgraded outlook is a genuine tailwind, though today’s foreign and institutional selling is a real source of two-way risk near term.

KOSPI chart
Chart by TradingView

Cardano

Crypto · ~$0.214 — Up on Fresh Institutional Interest
$0.214
▲ Up ~3.5% after T. Rowe Price adds ADA to its Active Crypto ETF
▪ BULLISH CARDANO — Buy Dips Toward $0.195, Target the $0.245 Zone
Buy Dip$0.195
Stop Loss$0.175
Take Profit$0.245

Why This Setup

A constructive institutional and development pipeline is a genuine tailwind, though broader crypto risk-off spillover ahead of the Warsh keynote is a real source of two-way risk.

CARDANO chart
Chart by TradingView

Solana

Crypto · ~$104-108 — Extending Rebound on Record ETF Inflows
$105.50
▲ Firmer after a record $1.22 billion week of Solana ETF inflows
▪ BULLISH SOLANA — Buy Dips Toward $95.00, Target the $120.00 Zone
Buy Dip$95.00
Stop Loss$88.00
Take Profit$120.00

Why This Setup

Record weekly ETF inflows and rising memecoin volume are genuine tailwinds, though the token’s history of sharp intraday drawdowns is a real source of two-way risk.

SOLANA chart
Chart by TradingView

Section 4 · Frequently Asked Questions

Asian Session FAQ — 28 August 2026

Answers to the questions traders are asking most this morning

What time does Fed Chair Warsh speak at Jackson Hole today?
Fed Chair Kevin Warsh is scheduled to deliver his first Jackson Hole keynote as chair at approximately 10:00am ET on Friday, 28 August, which falls late Friday night into early Saturday morning across Asian time zones. The speech caps the three-day Economic Policy Symposium and is widely viewed as the single most important scheduled catalyst of the week for the Dollar, the Yen and broader risk appetite.
Why is the Kospi falling despite Nvidia’s strong earnings?
Despite Nvidia’s blowout results and above-consensus guidance lifting US technology shares overnight, the Kospi has slipped around 1% as foreign and institutional investors extend net selling and book profits after the index’s recent run toward record territory. South Korean chip suppliers such as SK Hynix and Samsung Electronics have direct exposure to Nvidia’s supply chain, but broader caution ahead of tonight’s Warsh keynote is outweighing that structural tailwind for now.
What is the USD/JPY outlook with BOJ hike odds near 84-87%?
Prediction-market pricing for a 25-basis-point Bank of Japan hike at the 17-18 September meeting has held close to 84-87% for more than a week, keeping USD/JPY consolidating in a tight 159.12-159.52 range. Tonight’s Warsh keynote is a genuine source of two-way risk that could push the pair meaningfully in either direction depending on how hawkish or dovish the speech is read.
Why has Corn jumped to its highest level since 2023?
The Pro Farmer Crop Tour’s estimate of a 173.2 bushels-per-acre national corn yield, well below the USDA’s own 180.7-bushel forecast, has driven Corn futures toward 537-538¢/bushel. The USDA’s latest crop-condition report reinforced the bullish tone, showing the share of corn rated good-to-excellent falling three percentage points to 57% for the week ended 23 August.
Why is Copper still falling after hitting a record high this week?
Copper’s retreat from Tuesday’s all-time COMEX settlement high of $6.7115 reflects a continued build in LME and SHFE exchange inventories, which is easing near-term supply-tightness concerns and pressuring the tariff-driven warehouse trade that had been routing metal into US stockpiles. Flooding risk at Zijin Mining’s Kamoa-Kakula complex in the DRC is a partial offsetting factor that could limit further downside.
Why are Solana and Cardano both trading higher today?
Solana is extending its rebound toward the $104-108 zone after a record $1.22 billion week of Solana ETF inflows, alongside a seven-month high in memecoin trading volume on the network. Cardano is up roughly 3.5% to around $0.213-0.215 following T. Rowe Price’s decision to add ADA to its Active Crypto ETF, a fresh signal of institutional validation for the token.
What should traders watch for the rest of the day?
Fed Chair Kevin Warsh’s Jackson Hole keynote at 10:00am ET stands as the week’s single biggest catalyst for the Dollar, the Yen and global risk appetite. Beyond that, continued BOJ commentary ahead of the 17-18 September meeting, the ongoing fallout from fresh US sanctions on Iran, and any further USDA guidance on the corn and grains complex are the key variables likely to shape price action into the weekend.

Asian Session Summary — Friday, 28 August 2026 (Live Update)

Friday’s Asian session is trading cautiously as investors square positions ahead of Fed Chair Kevin Warsh’s first Jackson Hole keynote tonight, even though Wall Street closed sharply higher overnight on blowout earnings from Nvidia and Salesforce. South Korea’s Kospi is the clear regional laggard, slipping around 1% toward 6,830-6,870 as foreign and institutional investors book profits and pull the index back from Thursday’s 6,912 close, even with SK Hynix and Samsung Electronics carrying direct exposure to Nvidia’s upgraded AI outlook. In FX, USD/JPY is holding a tight range near 159.20-159.35 as BOJ September hike odds sit close to 84-87%, while NZD/USD has slipped toward 0.5950-0.5967 on fresh US sanctions against Iran souring broader risk appetite. In commodities, Copper has eased further to around $6.55-6.60 per pound as exchange inventories continue to build, while Corn has surged to around 537-538¢/bushel, its highest level since 2023, after the Pro Farmer Crop Tour flagged a weaker-than-expected national yield. Crypto markets are firmer, with Solana extending its rebound toward $104-108 on record ETF inflows and Cardano climbing roughly 3.5% to around $0.213-0.215 on fresh institutional interest. Highest-conviction session idea: favour dips in the commodity complex and in beaten-down crypto majors, but size cautiously into tonight’s Warsh keynote — a genuine source of two-way risk that could overwhelm today’s cautious tone given the unusual dual-hike backdrop facing both the Fed and the BOJ.

For the individual instruments: USD/JPY sell rallies toward 160.50, stop 162.00, target 156.50 — firm BOJ September hike pricing is a genuine headwind, though tonight’s Warsh keynote is a real source of two-way risk. NZD/USD sell rallies toward 0.6010, stop 0.6060, target 0.5820 — fresh US sanctions on Iran and a firmer Dollar are genuine headwinds, though widely expected RBNZ hike odds are a real source of two-way risk. Copper buy dips toward $6.35, stop $6.15, target $6.80 — Kamoa-Kakula flooding risk is a genuine tailwind, though rising exchange inventories are a real source of two-way risk. Corn buy dips toward 520¢, stop 505¢, target 560¢ — the Pro Farmer Tour’s weak yield estimate is a genuine tailwind, though favourable late-season weather is a real source of two-way risk. Kospi buy dips toward 6,700, stop 6,550, target 7,100 — the chip-supply-chain exposure to Nvidia is a genuine tailwind, though today’s foreign profit-taking is a real source of two-way risk. Cardano buy dips toward $0.195, stop $0.175, target $0.245 — fresh institutional interest is a genuine tailwind, though broader crypto risk-off spillover is a real source of two-way risk. Solana buy dips toward $95.00, stop $88.00, target $120.00 — record ETF inflows are a genuine tailwind, though the token’s history of sharp drawdowns is a real source of two-way risk. The decisive variable for the rest of the day is Fed Chair Kevin Warsh’s first Jackson Hole keynote at 10:00am ET, alongside the BOJ’s rate-hike trajectory shaping the Japanese Yen forecast this week. Size positions accordingly, and note that today’s backdrop carries genuine event risk that could reshape sentiment sharply into the weekend.

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