The American Currency Is Consolidating. We Are Expecting a Report on the US Labor Market

The US dollar has not changed much against a basket of major currencies. The dollar index (#DX) closed with a slight decrease (-0.01%). Support for the US currency had optimistic economic data. Thus, the number of employees in the non-farm sector from ADP increased in August by 195K, while experts expected 148K. The ISM non-manufacturing PMI in the US rose in August to 56.4 instead of the expected value of 54.0. We are expecting labor statistics from the USA and Canada.

The British pound is still growing. The sentiment of financial market participants improved due to a possible delay in the "hard" Brexit. Also, investors continue to monitor the situation around the trade dispute between Washington and Beijing. US and China plan to resume trade negotiations in October.

The black gold prices continue to consolidate. Currently, the WTI crude oil futures are testing the $56.25 per barrel mark.

Market indicators

The bullish sentiment was observed yesterday in the US stock markets: #SPY (+1.29%), #DIA (+1.42%), #QQQ (+1.83%).

The yield on 10-year US government bonds increased significantly. At the moment, the indicator is at the level of 1.58-1.59%.

• - Preliminary data on GDP in the eurozone at 12:00 (GMT+3:00);
• - A report on the US labor market at 15:30 (GMT+3:00);
• - Employment change in Canada at 15:30 (GMT+3:00);
• - Ivey PMI in Canada at 17:00 (GMT+3:00).

We also recommend paying attention to the speech of the Fed's head.

by JMarkets, 2019.09.05

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.