US dollar remains relatively flat at levels near Friday’s close.
On Monday, the US Dollar (USD) remained on the sidelines, with the quote board showing a highly mixed picture against the majority of major currencies. The US Dollar begins this week with a calm due to the Labor Day weekend in the United States, but the economic calendar will pick up speed as the big event approaches on Friday. The first Friday of each month will bring the US Jobs Report, which will include Nonfarm Payrolls and other salary data for markets to consider.
Apart from the most crucial In addition to payroll data. The calendar will include Purchasing Managers Index (PMI) data, which has the potential to affect markets by providing new information about the status of the economy. This could indicate. That the US Dollar Index already moved significantly ahead of Friday’s main event.
Daily Market movers: Take it easy.
Monday is Labor Day in the United States, therefore markets will be closed.
Monday is Labor Day in the United States, therefore markets will be closed.
China has warned Japan about economic reprisal in response to prospective chip limits.
On Saturday, China’s Purchasing Managers Index statistics for August were release, indicating that the country’s manufacturing sector continues to shrink. The PMI came in at 49.1, down from 49.4 a month earlier.
Equities are underperforming overall, with slight losses for All of the European indices and US futures are also down.
The CME Fedwatch Tool predicts a 69.0% chance of a 25 basis point (bps) interest rate drop by the Fed in September, against a 31.0% possibility of a 50 bps cut. Another 25 basis point drop (assuming September a 25 basis point cut) projected in November by 48.9%, with a 42.0% likelihood. That rate will be 75 basis points (25 bps + 50 bps) lower than current levels and a 9.1% chance that rates will be 100 (25 bps + 75 bps) lower.
The 10-year benchmark rate in the United States currently 3.90% and will remain unchange on Monday because bond trading in the country halted.
https://voiceoftraders.com/analysis/eurusd-may-struggle-to-gain-momentum-throughout-its-rebound
