Posted at 02 September 2026 / Categories Market Roundups
Market Roundup
• Spanish Unemployment Change (Aug) 44.4K,15.4K forecast,19.5K previous
• Italian PPI (YoY) (Jul) 7.8%, 5.8% previous
• Italian PPI (MoM) (Jul) 2.4%, 0.0% previous
•US ADP Nonfarm Employment Change (Aug) 38K, 47K forecast,46K previous
Looking Ahead Economic Data (GMT)
•14:00 US Factory Orders (MoM) (Jul) 0.7% forecast, -0.3% previous
•14:00 US Factory Orders Ex Transportation (MoM) (Jul) -0.4% previous
•14:00 US Durables Excluding Defense (MoM) (Jul) 1.3% previous
•14:00 US Durables Excluding Transport (MoM) (Jul) 0.4% previous
•14:30 US Crude Oil Inventories (Jul) -0.400M forecast, 0.095M previous
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro edged lower on Wednesday as dollar firmed as escalating tensions in the Middle East stoked worries about energy-induced inflation. The United States and Iran found themselves back on a war footing after the most significant exchange of fire in weeks, with Washington threatening even more devastating strikes, pushing oil prices to their highest in around a month .Concerns about the economic impact of the energy shock saw investors turn to the U.S. dollar, which hit a two-week high . Federal Reserve Governor Michael Barr said if inflation does not cool quickly, it will be time for the central bank to raise rates, echoing comments last week by Chair Kevin Warsh. Immediate resistance can be seen at 1.1597(SMA 20), an upside break can trigger rise towards 1.1625(38.2%fib).On the downside, immediate support is seen at 1.1565(50%fib), a break below could take the pair towards 1.1502(61.8%fib).
GBP/USD: Sterling hit a three-week low against a strengthening dollar on Wednesday as investors kept a close watch on the conflict in the Middle East and ?renewed selling pressure in the gilt market.The U.S. and Iran were back on a war footing on Wednesday after the most significant exchange of fire in weeks.UK government bond yields hit fresh 18-year highs, adding to the challenge facing finance minister John ?Healey ahead of his first budget. The greenback hit ?a two-week high as investors turned to the U.S. currency amid growing concerns ?about the energy shock and weighed diverging monetary policy paths across major economies. The British pound was down 0.05% to $1.3510 ?after reaching $1.3490, the lowest level since August 14.Immediate resistance can be seen at 1.3552(SMA 20), an upside break can trigger rise towards 1.3565(38.2%fib).On the downside, immediate support is seen at 1.3482(50%fib), a break below could take the pair towards1.3435(Lower BB).
AUD/USD: The Australian dollar slipped against the U.S. dollar on Wednesday as a stronger greenback offset upbeat Australian second-quarter GDP data.Australian economic data showed the economy grew 0.4% in the second quarter, slightly exceeding forecasts for 0.3%, supported largely by a surge in consumer spending on electric vehicles as petrol prices rose. Annual growth slowed to 2.1% from 2.5%, but remained well above expectations of 1.8% and exceeded the Reserve Bank of Australia’s estimate of the economy’s sustainable growth rate.The stronger-than-expected GDP figures prompted investors to raise expectations for an RBA rate hike this month, with the probability increasing to 58% from 49% before the data. Markets are also fully pricing in a move to 4.60% by November. Immediate resistance can be seen at 0.7198(38.2%fib), an upside break can trigger rise towards 0.7215(Higher BB).On the downside, immediate support is seen at 0.7129(38.2%fib), a break below could take the pair towards 07114(SMA 20)
USD/JPY: The U.S. dollar dipped against the yen on Wednesday as renewed speculation over coordinated intervention by the United States and Japan supported the Japanese Yen.U.S. Treasury Secretary Scott Bessent voiced strong support for “decisive” monetary measures to address yen weakness during a meeting with BOJ Governor Kazuo Ueda, the U.S. Treasury Department said. Ueda told reporters he hoped to discuss with fellow policymakers at this month’s meeting whether the economy was developing in line with the bank’s forecasts and whether inflation risks were increasing.Meanwhile, hawkish BOJ board member Hajime Takata said on Wednesday that the central bank should adjust interest rates nimbly in response to inflationary pressures, reinforcing expectations of further monetary-policy tightening. Immediate resistance can be seen at 160.00(Psychological level), an upside break can trigger rise towards 160.73(Higher BB).On the downside, immediate support is seen at 159.54(Daily low) a break below could take the pair towards 159.05(SMA 20).
Equities Recap
European shares fell to a one-month low on Wednesday, weighed down by a global bond sell-off as rising Middle East tensions intensified concerns over energy-driven inflation.
UK's benchmark FTSE 100 was down by 0.28 percent, Germany's Dax was down by 0.34 percent, France’s CAC was down by 0.06 percent.
Commodities Recap
Gold prices fell to their lowest level in more than three weeks on Wednesday, pressured by a stronger dollar as the largest exchange of fire between Tehran and Washington raised concerns about global inflation ahead of closely watched U.S. jobs data.
Spot gold was down 0.6% at $4,302.20 per ounce by 1007 GMT, after hitting its lowest level since August 7 earlier in the session, while U.S. gold futures for December delivery dropped 1.1% to $4,349.80.
Oil prices fell on Wednesday after reaching more than one-month highs earlier in the session, as traders weighed the risk of supply disruptions from overnight U.S. and Iranian strikes against signs that crude supplies were still reaching the market.
Brent crude futures fell 57 cents, or 0.60%, ?to $94.08 a barrel by 1135 GMT and U.S. West Texas Intermediate crude futures were down 72 cents, ?or 0.80%, to $89.50.