{"id":16522,"date":"2024-09-02T14:45:15","date_gmt":"2024-09-02T14:45:15","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14195"},"modified":"2025-02-16T10:55:29","modified_gmt":"2025-02-16T10:55:29","slug":"forex-market-analysis-02-september-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-02-september-2024\/","title":{"rendered":"Forex market analysis: 02 September 2024"},"content":{"rendered":"\n<p>As we step into the first trading day of September, markets are kicking off the month with a mix of caution and anticipation. With summer behind us, investors are shifting their focus to key economic data releases and potential market-moving events that could set the tone for the weeks ahead.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>KEY INDICATORS<\/strong><\/h1>\n\n\n\n<p><strong>Labour Day observance<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>US financial markets were closed today in observance of Labour Day, resulting in a quiet day for trading.<\/li>\n\n\n\n<li>However, global markets remained active, with investors around the world reacting to recent economic developments and positioning themselves for the return of US markets tomorrow.<\/li>\n<\/ul>\n\n\n\n<p><strong>Global markets react to economic data<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Even with the US markets closed, global markets provided some direction. In Europe, stocks edged higher on the back of stronger-than-expected manufacturing data, which suggested that the region\u2019s economic slowdown might not be as severe as feared.<\/li>\n\n\n\n<li>Meanwhile, in Asia, markets were mixed, with Chinese stocks under pressure due to ongoing concerns about the country\u2019s economic health, highlighted by weaker-than-expected trade data.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/20240902-160522.jpg\" alt=\"\" class=\"wp-image-14196\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>MARKET MOVERS<\/strong><\/h1>\n\n\n\n<p><strong>EUR\/CHF<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240902_1-1024x583.png\" alt=\"\" class=\"wp-image-14197\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>GBP\/USD<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240902_2-1024x586.png\" alt=\"\" class=\"wp-image-14198\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>EUR\/GBP<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240902_3-1024x584.png\" alt=\"\" class=\"wp-image-14199\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>TODAY\u2019S NEWS HEADLINES<\/strong><\/h1>\n\n\n\n<p><strong>ECB to deliver second rate cut in September<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The European Central Bank meets again later this month, and Goldman Sachs (NYSE:GS) expects the central bank to ease monetary policy once more having started its rate-cutting cycle in June.<\/li>\n\n\n\n<li>Forward-looking indicators and comments from some ECB officials suggest a small downgrade to near-term growth, which would take 2024 and 2025 growth down -0.1pp each to 0.8% and 1.3%, respectively.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>UK manufacturing PMI hits 26-month high in August on rising domestic demand<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Manufacturing Purchasing Managers\u2019 Index (PMI) stood at 52.5, unchanged from the preliminary estimate and up from 52.1 in July.<\/li>\n\n\n\n<li>The PMI in the UK remained at 52.5 in August, up from 52.1 in July, marking its highest level in over two years. This indicates a period of recovery for the sector, buoyed by a significant increase in domestic orders.<\/li>\n\n\n\n<li>This is the highest level in 26 months, primarily driven by strong domestic demand that offset weaknesses in export markets.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Stocks close higher Friday, S&amp;P 500 posts fourth straight winning month<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Stocks rose on Friday, with the Dow Jones Industrial Average posting a fresh record high as investors ended a volatile month on a high note.<\/li>\n\n\n\n<li>The 30-stock Dow jumped 228.03 points, or 0.55%, to close at 41,563.08.<\/li>\n\n\n\n<li>The S&amp;P 500 advanced 1.01%, closing at 5,648.40.<\/li>\n\n\n\n<li>The tech-heavy Nasdaq Composite gained 1.13% to end at 17,713.62.<\/li>\n\n\n\n<li>The personal consumption expenditures price index, the Federal Reserve\u2019s preferred inflation gauge, rose 0.2% on a monthly basis in July and 2.5% from a year ago.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>Click <a href=\"https:\/\/www.vtmarkets.net\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\" target=\"_blank\" rel=\"noopener\" title=\"here\">here<\/a> to open account and start trading.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we step into the first trading day of September, markets are kicking off the month with a mix of caution and anticipation. With summer behind us, investors are shifting their focus to key economic data releases and potential market-moving events that could set the tone for the weeks ahead. KEY INDICATORS Labour Day observance <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-02-september-2024\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-16522","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/16522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=16522"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/16522\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=16522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=16522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=16522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}