Jeremy Oles

Published On: 05/09/2024
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Technical Analysis for AAPL by TradingView
Technical Analysis for AAPL by TradingView
Technical Analysis for AAPL by TradingView
Upcoming economic events 6 September 2024
By Published On: 05/09/2024
Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious
01:30🇦🇺2 pointsHome Loans (MoM) (Jul)1.0%0.5%
07:00🇪🇺2 pointsECB’s Elderson Speaks——————
09:00🇪🇺2 pointsGDP (QoQ) (Q2)0.3%0.3%
09:00🇪🇺2 pointsGDP (YoY) (Q2)0.6%0.4%
12:30🇺🇸2 pointsAverage Hourly Earnings (YoY) (YoY) (Aug)3.7%3.6%
12:30🇺🇸3 pointsAverage Hourly Earnings (MoM) (Aug)0.3%0.2%
12:30🇺🇸3 pointsNonfarm Payrolls (Aug)164K114K
12:30🇺🇸2 pointsParticipation Rate (Aug)———62.7%
12:30🇺🇸2 pointsPrivate Nonfarm Payrolls (Aug)139K97K
12:30🇺🇸2 pointsU6 Unemployment Rate (Aug)———7.8%
12:30🇺🇸3 pointsUnemployment Rate (Aug)4.2%4.3%
12:45🇺🇸2 pointsFOMC Member Williams Speaks——————
15:00🇺🇸2 pointsFed Waller Speaks——————
17:00🇺🇸2 pointsU.S. Baker Hughes Oil Rig Count———483
17:00🇺🇸2 pointsU.S. Baker Hughes Total Rig Count———583
19:30🇺🇸2 pointsCFTC Crude Oil speculative net positions———226.7K
19:30🇺🇸2 pointsCFTC Gold speculative net positions———294.4K
19:30🇺🇸2 pointsCFTC Nasdaq 100 speculative net positions———21.4K
19:30🇺🇸2 pointsCFTC S&P 500 speculative net positions———-81.9K
19:30🇦🇺2 pointsCFTC AUD speculative net positions———-19.2K
19:30🇯🇵2 pointsCFTC JPY speculative net positions———25.9K
19:30🇪🇺2 pointsCFTC EUR speculative net positions———92.8K

Summary of Upcoming Economic Events on September 6, 2024

  1. Australia Home Loans (MoM) (Jul) (01:30 UTC): Monthly change in new home loans issued. Forecast: +1.0%, Previous: +0.5%.
  2. ECB’s Elderson Speaks (07:00 UTC): Remarks from ECB Executive Board member Frank Elderson, offering insights into ECB policy and financial stability.
  3. Eurozone GDP (QoQ) (Q2) (09:00 UTC): Quarterly change in Eurozone’s gross domestic product. Forecast: +0.3%, Previous: +0.3%.
  4. Eurozone GDP (YoY) (Q2) (09:00 UTC): Annual change in Eurozone’s GDP. Forecast: +0.6%, Previous: +0.4%.
  5. US Average Hourly Earnings (YoY) (Aug) (12:30 UTC): Annual change in the average hourly earnings of workers. Forecast: +3.7%, Previous: +3.6%.
  6. US Average Hourly Earnings (MoM) (Aug) (12:30 UTC): Monthly change in the average hourly earnings. Forecast: +0.3%, Previous: +0.2%.
  7. US Nonfarm Payrolls (Aug) (12:30 UTC): Number of new jobs added, excluding the farming sector. Forecast: +164K, Previous: +114K.
  8. US Participation Rate (Aug) (12:30 UTC): The percentage of the working-age population that is part of the labor force. Previous: 62.7%.
  9. US Private Nonfarm Payrolls (Aug) (12:30 UTC): Number of new private sector jobs added. Forecast: +139K, Previous: +97K.
  10. US U6 Unemployment Rate (Aug) (12:30 UTC): Broader measure of unemployment, including those marginally attached to the workforce and those working part-time but seeking full-time employment. Previous: 7.8%.
  11. US Unemployment Rate (Aug) (12:30 UTC): Percentage of the labor force that is unemployed. Forecast: 4.2%, Previous: 4.3%.
  12. FOMC Member Williams Speaks (12:45 UTC): Remarks from New York Fed President John Williams, potentially offering insights into future monetary policy.
  13. Fed Waller Speaks (15:00 UTC): Comments from Federal Reserve Governor Christopher Waller, providing further context on the Fed’s policy stance.
  14. US Baker Hughes Oil Rig Count (17:00 UTC): Weekly count of active oil rigs in the US. Previous: 483.
  15. US Baker Hughes Total Rig Count (17:00 UTC): Weekly count of all active rigs, including gas. Previous: 583.
  16. CFTC Speculative Net Positions (Crude Oil, Gold, Nasdaq 100, S&P 500, AUD, JPY, EUR) (19:30 UTC): Weekly data on speculative positions in various commodities and currencies, providing insight into market sentiment.

Market Impact Analysis

  • Australia Home Loans: A rise in home loans suggests stronger housing demand, supporting AUD. A lower figure could signal weakening demand.
  • Eurozone GDP: Stable or growing GDP supports EUR, indicating economic stability. Lower growth may weigh on the currency and raise concerns about Eurozone recovery.
  • US Employment Data (Nonfarm Payrolls, Unemployment Rate, and Earnings): Strong job creation and rising wages support USD, signaling economic strength. Weaker-than-expected data could raise concerns about a potential slowdown, impacting market expectations for future Fed policy.
  • FOMC Speeches (Williams and Waller): Fed members’ comments will be closely watched for signals on future interest rate hikes or policy adjustments, influencing USD and market sentiment.
  • Baker Hughes Rig Counts: Lower oil rig counts may signal reduced supply, supporting oil prices, while higher counts may indicate increasing supply pressure.
  • CFTC Speculative Net Positions: Changes in speculative positions can provide insights into market sentiment, with large shifts potentially indicating upcoming volatility in commodity and currency markets.

Overall Impact

  • Volatility: High, particularly due to US employment data and Fed speeches, which can significantly impact currency, equity, and bond markets.
  • Impact Score: 8/10, indicating high potential for market movements.
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