Market participants may be on the lookout for key economic indicators in the U.S.
01.09.2021
- U.S. ADP National Employment Report
- MIS Manufacturing Index
Yesterday, the three major U.S. stock indices all fell, resulting in a market environment characterized by falling stock prices, rising interest rates, and flat crude oil prices. The U.S. August Consumer Confidence Index, released yesterday, came in at 113.8, falling short of the market forecast of 124.0. It also fell below the previous reading, reaching its lowest level in six months. Gold has risen above the key $1,800 level and is currently trading around $1,815.
With the yield on 10-year U.S. Treasuries rising, the U.S. dollar is facing resistance, while the AUD/USD pair continues its upward trend based on Dow Theory. The AUD/USD is currently trading around 0.731. From a technical perspective, as the pair approaches the 200-day moving average on the 4-hour chart, we will be watching closely to see if it continues to rise.
Today, at 3:00 PM, UK Nationwide House Prices and German Retail Sales; at 4:00 PM, Turkey’s Q2 GDP and Manufacturing PMI; at 5:30 PM, UK Manufacturing PMI (final);at 9:00 PM, remarks by Bundesbank President Weidmann; at 9:15 PM, U.S. ADP National Employment Report; at 10:45 PM, U.S. Manufacturing PMI (final);23:00: US ISM Manufacturing PMI and US Construction Spending; 23:30: US Weekly Crude Oil Inventories; 25:00: Remarks by Bostic, President of the Atlanta Fed. I intend to watch the market cautiously to see if today’s key indicators will trigger significant price movements at the start of the month.
Author: Keisuke Sakurai
