The US labour market will be in the spotlight – Crypto News – Crypto News
Connect with us
The US labour market will be in the spotlight The US labour market will be in the spotlight

others

The US labour market will be in the spotlight – Crypto News

Published

6 months ago

on

The US Dollar (USD) traded on the defensive, setting aside gains recorded in the previous day as investors assessed the recent sharp advance in global yields, while further cooling of the US labour market also weighed down on the Greenback.

Here’s what to watch on Thursday, September 4:

The US Dollar Index (DXY) came under fresh downside pressure, challenging once again its key contention zone around the 98.00 level. The weekly Initial Jobless Claims, Challenger Job Cuts, the ADP Employment Change, Balance of Trade results, the ISM Services PMI, the final S&P Global Services PMI, and the EIA’s weekly report on US crude oil stockpiles are all due in the US alongside the speech by the Fed’s Williams.

EUR/USD regained balance and retested the 1.1680 zone on the back of the fresh bearish mood hitting the US Dollar. The HCOB Construction PMI in Germany and the euro area are due, followed by the Retail Sales in the euro region.

GBP/USD managed to trim part of Monday’s sharp losses and clocked decent gains toward the 1.3450 zone. The BoE’s Decision Maker Panel (DMP) and the S&P Global Construction PMI will be publisjed across the Channel.

USD/JPY snapped three daily advances in a row on Wednesday, coming under fresh pressure soon after hitting multi-week tops north of the 149.00 hurdle. Next on tap in Japan will be the weekly Foreign Bond Investment figures.

AUD/USD resumed its two-week recovery, reclaiming the area well north of 0.6500 the figure. Next on tap on the Australian calendar will be the Balance of Trade results and Household Spending.

Crude oil prices dropped markedly, fading Tuesday’s gains and refocuing on the downside below the $64.00 mark per barrel of WTI as traders evaluated the likelihood of another output hike by the OPEC+.

Gold prices rose to an all-time high past the $3,570 mark per troy ounce, clinching its seventh consecutive day of gains. The prospects of further rate cuts by the Fed continued to feed the precious metal’s rally. Silver prices extended their advance, surpassing the $41.00 mark per ounce for the first time since the summer of 2011.

Related Topics:
Continue Reading

Trending