Jeremy Oles
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| Time(GMT+0/UTC+0) | State | Importance | Event | Forecast | Previous |
| 01:30 |  | 2 points | Current Account (Q2) | -5.0B | -4.9B |
| 03:35 |  | 2 points | 10-Year JGB Auction | ——— | 0.926% |
| 13:45 |  | 3 points | S&P Global US Manufacturing PMI (Aug) | 48.1 | 48.0 |
| 14:00 | | 2 points | Construction Spending (MoM) (Jul) | 0.1% | -0.3% |
| 14:00 | | 2 points | ISM Manufacturing Employment (Aug) | ——— | 43.4 |
| 14:00 | | 3 points | ISM Manufacturing PMI (Aug) | 47.5 | 46.8 |
| 14:00 | | 3 points | ISM Manufacturing Prices (Aug) | 52.5 | 52.9 |
| 14:00 |  | 2 points | ECB’s Supervisory Board Member Jochnick Speaks | ——— | ——— |
| 15:00 | | 2 points | Atlanta Fed GDPNow | 2.5% | 2.5% |
Summary of Upcoming Economic Events on September 3, 2024
- Australia Current Account (Q2) (01:30 UTC): The balance of payments, showing the difference between the value of a country’s imports and exports of goods and services. Forecast: -5.0B, Previous: -4.9B.
- Japan 10-Year JGB Auction (03:35 UTC): Auction of 10-year Japanese Government Bonds. Previous Yield: 0.926%.
- US S&P Global US Manufacturing PMI (Aug) (13:45 UTC): Measures activity in the US manufacturing sector. Forecast: 48.1, Previous: 48.0.
- US Construction Spending (MoM) (Jul) (14:00 UTC): Monthly change in the total amount spent on construction. Forecast: +0.1%, Previous: -0.3%.
- US ISM Manufacturing Employment (Aug) (14:00 UTC): Employment trends in the US manufacturing sector. Previous: 43.4.
- US ISM Manufacturing PMI (Aug) (14:00 UTC): Measures activity in the US manufacturing sector. Forecast: 47.5, Previous: 46.8.
- US ISM Manufacturing Prices (Aug) (14:00 UTC): Measures changes in prices within the manufacturing sector. Forecast: 52.5, Previous: 52.9.
- ECB’s Supervisory Board Member Jochnick Speaks (14:00 UTC): Remarks from Kerstin Jochnick, providing insights into ECB supervisory policy and financial stability.
- Atlanta Fed GDPNow (15:00 UTC): Real-time estimate of US GDP growth. Forecast: 2.5%, Previous: 2.5%.
Market Impact Analysis
- Australia Current Account: A larger deficit than expected could weaken AUD, indicating more capital is leaving the country than entering. A smaller deficit could support AUD, indicating stronger economic health.
- Japan 10-Year JGB Auction: Yields on 10-year bonds impact JPY; higher demand leading to lower yields can strengthen JPY, while low demand and higher yields can weaken it.
- US Manufacturing PMI (S&P Global and ISM): Readings below 50 indicate contraction. Lower figures can suggest weakness in the manufacturing sector, potentially weighing on USD and affecting equities. Improving figures may signal recovery.
- US Construction Spending: An increase in spending supports economic growth, potentially boosting USD and indicating confidence in the construction sector.
- US ISM Manufacturing Employment: A low reading indicates potential job cuts in manufacturing, which could raise concerns about economic strength.
- US ISM Manufacturing Prices: Rising prices suggest inflationary pressures in manufacturing, potentially impacting Fed policy expectations.
- Atlanta Fed GDPNow: A stable or increasing estimate supports market confidence in economic growth, positively impacting USD.
Overall Impact
- Volatility: Moderate, with potential reactions in equity, bond, currency, and commodity markets, particularly with a focus on manufacturing and construction sectors in the US.
- Impact Score: 6/10, indicating moderate potential for market movements.
