Jeremy Oles

Published On: 03/09/2024
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By Published On: 03/09/2024
Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious
00:30🇯🇵2 pointsau Jibun Bank Japan Services PMI (Aug)54.053.7
01:30🇦🇺2 pointsGDP (QoQ) (Q2)0.2%0.1%
01:30🇦🇺2 pointsGDP (YoY) (Q2)1.0%1.1%
01:45🇨🇳2 pointsCaixin Services PMI (Aug)51.952.1
07:00🇪🇺2 pointsECB’s Elderson Speaks——————
08:00🇪🇺2 pointsHCOB Eurozone Composite PMI (Aug)51.250.2
08:00🇪🇺2 pointsHCOB Eurozone Services PMI (Aug)53.351.9
12:30🇺🇸2 pointsExports (Jul)———265.90B
12:30🇺🇸2 pointsImports (Jul)———339.00B
12:30🇺🇸2 pointsTrade Balance (Jul)-78.80B-73.10B
14:00🇺🇸2 pointsFactory Orders (MoM) (Jul)4.6%-3.3%
14:00🇺🇸3 pointsJOLTs Job Openings (Jul)8.090M8.184M
18:00🇺🇸2 pointsBeige Book——————
20:30🇺🇸2 pointsAPI Weekly Crude Oil Stock———-3.400M

Summary of Upcoming Economic Events on September 4, 2024

  1. Japan au Jibun Bank Japan Services PMI (Aug) (00:30 UTC): Measures activity in Japan’s service sector. Forecast: 54.0, Previous: 53.7.
  2. Australia GDP (QoQ) (Q2) (01:30 UTC): Quarterly change in Australia’s gross domestic product. Forecast: +0.2%, Previous: +0.1%.
  3. Australia GDP (YoY) (Q2) (01:30 UTC): Annual change in Australia’s GDP. Forecast: +1.0%, Previous: +1.1%.
  4. China Caixin Services PMI (Aug) (01:45 UTC): Measures activity in China’s service sector. Forecast: 51.9, Previous: 52.1.
  5. ECB’s Elderson Speaks (07:00 UTC): Remarks from ECB Executive Board member Frank Elderson, potentially offering insights into the ECB’s policy stance and economic outlook.
  6. Eurozone HCOB Eurozone Composite PMI (Aug) (08:00 UTC): Measures overall business activity in the Eurozone. Forecast: 51.2, Previous: 50.2.
  7. Eurozone HCOB Eurozone Services PMI (Aug) (08:00 UTC): Measures activity in the Eurozone’s service sector. Forecast: 53.3, Previous: 51.9.
  8. US Exports (Jul) (12:30 UTC): Total value of goods and services exported by the US. Previous: $265.90B.
  9. US Imports (Jul) (12:30 UTC): Total value of goods and services imported by the US. Previous: $339.00B.
  10. US Trade Balance (Jul) (12:30 UTC): Difference between exports and imports. Forecast: -$78.80B, Previous: -$73.10B.
  11. US Factory Orders (MoM) (Jul) (14:00 UTC): Monthly change in the total value of new purchase orders placed with manufacturers. Forecast: +4.6%, Previous: -3.3%.
  12. US JOLTs Job Openings (Jul) (14:00 UTC): Measures the number of job openings in the US. Forecast: 8.090M, Previous: 8.184M.
  13. US Beige Book (18:00 UTC): Report from the Federal Reserve providing a summary of economic conditions across its districts.
  14. API Weekly Crude Oil Stock (20:30 UTC): Weekly change in US crude oil inventories. Previous: -3.400M.

Market Impact Analysis

  • Japan Services PMI: A reading above 50 indicates expansion, suggesting strength in the service sector and supporting JPY.
  • Australia GDP: A positive GDP growth rate supports AUD, indicating economic resilience. Lower-than-expected growth could suggest economic challenges.
  • China Caixin Services PMI: A reading above 50 signals expansion in the services sector, supporting CNY. A lower reading could raise concerns about the sector’s growth.
  • Eurozone Composite and Services PMIs: Higher PMIs suggest expanding economic activity, supporting EUR. Lower readings could indicate slowing economic momentum.
  • US Trade Balance: A larger deficit suggests more imports than exports, which could weigh on USD. A smaller deficit supports USD.
  • US Factory Orders: An increase in factory orders indicates stronger demand for manufactured goods, supporting USD and signaling economic growth.
  • US JOLTs Job Openings: A high number of job openings indicates a strong labor market, supporting USD. A decline might suggest weakening labor demand.
  • US Beige Book: Provides insights into economic conditions, which can influence market expectations for future Fed policy.
  • API Crude Oil Stocks: Lower inventories typically support higher oil prices, indicating strong demand or reduced supply.

Overall Impact

  • Volatility: Moderate to high, with potential reactions in equity, bond, currency, and commodity markets based on economic activity data, trade figures, and Fed insights.
  • Impact Score: 7/10, indicating a high potential for market movements.