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> Fundamental Analysis 2017.09.01 – A Busy Macroeconomic Day Ahead
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Fundamental Analysis 2017.09.01 – A Busy Macroeconomic Day Ahead

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USD slipped against its G10 counterparts during yesterday’s session.

This was largely a result of poor US data USD Initial Jobless Claims index went up to 236K from the previous week’s figure of 235K. Although Personal income saw a slight increase of 0.4% from the previous 0.0%, personal consumption came in under the expected 0.4% at 0.3%.

EUR/USD gained 0.13% reaching 1.1897.

GBP/USD saw an increase of 0.15% reaching 1.2940. The EU and German Markit Manufacturing PMI for August were published earlier today – the EU PMI remained unchanged whereas the German PMI saw a slight drop from its previous 59.4 to 59.3.

USD/JPY went down by 0.12% trading at 110.11.

AUD/USD went up also, by 0.61% currently trading at 0.7952.

Metals after a week of falling – because of the dollar are now rising for the same reason. Gold reached 1320.95 after gaining 0.92%. Silver also is trading higher than yesterday at 17.50 after gaining 0.4%.

As a result of multiple refineries shutting down due to Hurricane Harvey - Brent climbed to 52.60 an increase of 4.20%. WTI after gaining 2.60% reached 47.37.

US Nonfarm Payrolls and Average Hourly Earnings are slated to release at 12:30 (GMT). This might be good news if these macroeconomic indicators come in over expectation – which at the moment are 180K for NFP and Average Hourly Earnings at 2.6%. US Unemployment rate which is forecasted to remain unchanged is scheduled for 12.30 (GMT) and Bank Stress Test Info will be released at 20.30 (GMT).

US stocks are currently trading in the green. The Dow is currently at 21,948.10 after gaining 0.25%). The NQ went up by 0.95% reaching 6,428.66. S&P saw gains in the region of 0.57% and currently trading at 2471.65.

The FTSE went up by 0.19% currently trading at 7,444.12. The CAC gained 0.68% trading at 5120.05. The DAX is at 12,112.63 after gaining 0.49%.

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Source: https://www.stofs.com/en/newsroom/entry/DAILY_MARKET/fundamental-analysis-20170901-a-busy-macroeconomic-day-ahead/?camp=24219
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