Top Investment Manager Reveals Key Market Insights for September 4
Stay ahead of the curve with the latest updates on major currency pairs and economic data. Eurostat’s Producer Price Index (PPI) data and US economic indicators like Factory Orders and JOLTS Job Openings are on the radar today. Keep an eye on the Bank of Canada’s monetary policy decisions and the Federal Reserve’s Beige Book release for potential market moves.
In the Asian session, Australia’s GDP grew by 1% in Q2, meeting expectations. Meanwhile, China’s Caixin Services PMI dipped to 51.6 in August. The AUD/USD pair is holding steady around 0.6700 after Tuesday’s decline.
Expect the BoC to cut rates by 25 bps to 4.25% in today’s meeting, impacting USD/CAD which closed higher on Tuesday. Keep an eye on the pair as it consolidates near 1.3550.
US Dollar PRICE This week
The US Dollar showed strength against major currencies this week, with notable gains against the New Zealand Dollar. Check out the percentage changes in the table below for more insights.
The USD Index hit a high of 101.91 on Tuesday before retracing slightly. Keep an eye on the benchmark 10-year US Treasury bond yield and US stock index futures for market sentiment.
EUR/USD recovered above 1.1050 on Wednesday after a slight dip on Tuesday. Watch out for the Euro area’s Monthly PPI data release for potential impacts.
GBP/USD held steady above 1.3100 despite minor losses on Tuesday. Monitor the pair for any trend changes in the European session.
USD/JPY broke its winning streak on Tuesday and is under pressure around 145.00 early Wednesday. Keep an eye on key levels for potential reversals.
Gold struggled to stay above $2,500 on Tuesday and closed lower. Watch for further downside as XAU/USD trades below $2,490 in today’s session.
Stay informed and make informed decisions with these key market updates. Understanding market trends and economic indicators can help you navigate the financial landscape effectively.