{"id":9284,"date":"2024-09-02T06:05:40","date_gmt":"2024-09-02T06:05:40","guid":{"rendered":"https:\/\/justmarkets.eu\/?p=9284"},"modified":"2024-09-02T06:05:41","modified_gmt":"2024-09-02T06:05:41","slug":"weekly-overview-2024-09-02","status":"publish","type":"post","link":"https:\/\/justmarkets.eu\/es\/analytics\/weekly-overview-2024-09-02\/","title":{"rendered":"Week&#8217;s main events (September 02 \u2013 September 06)"},"content":{"rendered":"\r\n<div class=\"ag-base_page ag-m-format-container\">\r\n<h1 class=\"ag-base_title-page\">Week&#8217;s main events (September 02 \u2013 September 06)<\/h1>\r\n<div class=\"ag-analytics-page ag-market-overview-page\">\r\n   <p class=\"ag-analytics_text\">\r\nThe US nonfarm payrolls report will become the week&#8217;s main event as it is the most important data for the Fed&#8217;s monetary policy decision. Economists believe the labor market will add&#160;164,000 jobs in August after&#160;114,000 in July. The unemployment rate is expected to be&#160;4.2%, down from July&#8217;s&#160;4.3%, while average hourly earnings are expected to be without change at&#160;3.6% y\/y in August. The inflation data in Switzerland should also be on the trader&#8217;s list. Also, investors should not miss the Manufacturing PMI data in various countries. Falling below&#160;50 is a serious slowdown in the sector, which usually leads to a recession.\r\n  <\/p>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Monday, September&#160;02\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nTypically, Monday is an ordinary trading day with low volatility, but data on business activity in the manufacturing sector may add volatility to the market. It\u2019s a bank holiday in the United States and Canada.\r\n  <\/div>\r\n  \r\n    <ul class=\"ag-analytics_list\">\r\n<li>\u2013 Switzerland Retail Sales&#160;(m\/m) at&#160;09:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Switzerland Manufacturing PMI&#160;(m\/m) at&#160;10:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 German Manufacturing PMI&#160;(m\/m) at&#160;10:55&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone Manufacturing PMI&#160;(m\/m) at&#160;11:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK Manufacturing PMI&#160;(m\/m) at&#160;11:30&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n  \r\n  <div class=\"ag-analytics_title\">\r\n    Tuesday, September&#160;03\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nThe main report on Tuesday will be Swiss inflation data. Inflationary pressures are expected to continue to ease. This may have a temporary negative impact on the Swiss currency.\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n  <ul class=\"ag-analytics_list\">\r\n<li>\u2013 Switzerland Consumer Price Index&#160;(m\/m) at&#160;09:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Switzerland GDP&#160;(m\/m) at&#160;10:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada Manufacturing PMI&#160;(m\/m) at&#160;16:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US ISM Manufacturing PMI&#160;(m\/m) at&#160;17:00&#160;(GMT+3).<\/li>\r\n\r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Wednesday, September&#160;04\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nOn Wednesday, all investor attention will be focused on the Bank of Canada meeting. Canadian overnight index swaps&#160;(OIS) point to a third consecutive quarter-point rate cut. There is a&#160;15% chance of a more substantial&#160;50 bps rate cut. This could put pressure on the Canadian currency. Traders are also advised to follow the data on the number of JOLTs vacancies. The drop in the number will confirm the problems of the US labor market and increase the probability of the US Fed rate cut by&#160;0.5% this month. This will be a strong negative for the USD.\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n  <ul class=\"ag-analytics_list\">\r\n <li>\u2013 Australia GDP&#160;(q\/q) at&#160;04:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 German Services PMI&#160;(m\/m) at&#160;10:55&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone Services PMI&#160;(m\/m) at&#160;11:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 UK Services PMI&#160;(m\/m) at&#160;11:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone Producer Price Index&#160;(m\/m) at&#160;12:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada Trade Balance&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Trade Balance&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada BoC Interest Rate Decision at&#160;16:45&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada BoC Rate Statement at&#160;16:45&#160;(GMT+3);<\/li>\r\n<li>\u2013 US JOLTs Job Openings&#160;(m\/m) at&#160;17:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada BoC Press Conference at&#160;17:30&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Thursday, September&#160;05\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nLots of different macro statistics will be released on Thursday, but all the reports weigh about the same. At the Asian session, it is worth paying attention to the speech of the RBA head. In Europe, traders should focus on the Eurozone retail sales data. At the American session, it is worth paying attention to the report on US business activity in the services sector from ISM. Traders should also pay attention to the Natural Gas Storage data, which significantly impacts natural gas prices. Gas storages are now fuller than usual, so the increase in indicators may have a negative impact on natural gas prices.\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n  <ul class=\"ag-analytics_list\">\r\n <li>\u2013 Australia Trade Balance&#160;(m\/m) at&#160;04:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Australia RBA Gov Bullock Speaks at&#160;05:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Switzerland Unemployment Rate&#160;(m\/m) at&#160;08:45&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone Retail Sales&#160;(m\/m) at&#160;12:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 US ADP Non-Farm Employment Change&#160;(m\/m) at&#160;15:15&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Initial Jobless Claims&#160;(w\/w) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US ISM Services PMI&#160;(m\/m) at&#160;17:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Natural Gas Storage&#160;(w\/w) at&#160;17:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Crude Oil Reserves&#160;(w\/w) at&#160;18:00&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Friday, September&#160;06\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nThe US Nonfarm Payrolls data will become investors&#8217; most important Friday release, so the volatility can increase. This indicator is also considered by the Fed when adjusting monetary policy. The key US labor market report is expected to be better than the July figures, which may support the US dollar. However, any signs of a weakening labor market could revive fears about the prospect of recession, which had rattled markets in late July and early August. Traders should also not miss the Canadian unemployment data, which strongly influences the Bank of Canada&#8217;s policy.\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n  <ul class=\"ag-analytics_list\">\r\n <li>\u2013 German Industrial Production&#160;(m\/m) at&#160;09:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 German Trade Balance&#160;(m\/m) at&#160;09:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 Eurozone GDP&#160;(q\/q) at&#160;12:00&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Nonfarm Payrolls&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 US Unemployment Rate&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada Unemployment Rate&#160;(m\/m) at&#160;15:30&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada FOMC Member Williams at&#160;15:45&#160;(GMT+3);<\/li>\r\n<li>\u2013 Canada Ivey PMI&#160;(m\/m) at&#160;17:00&#160;(GMT+3).<\/li>\r\n  <\/ul>\r\n<p class=\"ag-analytics_text\">by <span class=\"author vcard\"><span class=\"fn\">JustMarkets<\/span><\/span>, <span class=\"updated\">2024.09.02<\/span><\/p>\r\n<!--a href=\"\/analytics\/daily-forecast\" class=\"ag-analytics_link\">\r\n          We advise you to get acquainted with the daily forecasts for the major currency pairs.\r\n        <\/a--> <a class=\"ag-base-btn\" href=\"https:\/\/secure.justmarkets.eu\/es\/register\/?sl=1\">Open Account<\/a><\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Week&#8217;s main events (September 02 \u2013 September 06) The US nonfarm payrolls report will become the week&#8217;s main event as it is the most important data for the Fed&#8217;s monetary policy decision. Economists believe the labor market will add&#160;164,000 jobs in August after&#160;114,000 in July. The unemployment rate is expected &#8230;<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[189,331,337],"tags":[],"class_list":["post-9284","post","type-post","status-publish","format-standard","hentry","category-analytics","category-market-overview","category-weekly-overview"],"featured_image_src":"","blog_images":{"medium":"","large":""},"acf":[],"aioseo_notices":[],"ams_acf":[{"key":"icon","label":"Icon","value":false}],"_links":{"self":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts\/9284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/comments?post=9284"}],"version-history":[{"count":1,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts\/9284\/revisions"}],"predecessor-version":[{"id":9286,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts\/9284\/revisions\/9286"}],"wp:attachment":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/media?parent=9284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/categories?post=9284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/tags?post=9284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}