Should Investors Be on Guard for Key Economic Indicators in U.S. Trading Hours?
01.09.2021
- U.S. ADP National Employment Report
- U.S. ISM Manufacturing Index
Yesterday, the three major stock indices in the U.S. market 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 surpassed the key $1,800 level and is currently trading around $1,815.
As the yield on 10-year U.S. Treasuries rises, the U.S. dollar faces resistance on the upside, while the AUD/USD pair continues its upward trend based on Dow Theory.The AUD/USD pair is currently trading around 0.731. From a technical perspective, as it approaches the 200-period simple moving average (SMA) on the 4-hour chart, we will be watching closely to see if it continues to rise.
Today, at 3:00 p.m., the UK Nationwide House Price Index and German retail sales will be released; at 4:00 p.m., Turkey’s second-quarter GDP and Manufacturing PMI; at 5:30 p.m., the UK Manufacturing PMI (final reading);at 9:00 PM, remarks by German Bundesbank President Bahtmann; at 9:15 PM, U.S. ADP National Employment Report; at 10:45 PM, U.S. Manufacturing PMI (final reading);at 11:00 PM: U.S. ISM Manufacturing Index and U.S. Construction Spending; at 11:30 PM: U.S. Weekly Crude Oil Inventories; and at 1:00 AM: Remarks by U.S. Atlanta Fed President Bostic. 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.
