Previous Trading Days Events 03.09.2024

Switzerland Inflation MoM Consumer prices remained flat in August 2024, missing expectations of a 0.1 uptick, after a 0.2 drop in July.

Switzerland GDP Growth GDP expanded by 0.7 in Q2 2024, outpacing forecasts and Q1s 0.5 growth, driven by a 2.6 surge in manufacturing.

US ISM Manufacturing PMI PMI inched up to 47.2 in August 2024 from 46.8, underperforming expectations of 47.5, marking the 21st contraction in 22 months. 

Winners and Losers In The Forex Market 

On September 3, 2024, in the Forex Market, GBPAUD led the gainers with a 0.96 increase, equating to 185.2 pips, while AUDJPY trailed as the top loser with a 2.14 decline, reflecting a loss of 213 pips.

News Reports Monitor Previous Trading Day 03.09.2024

Server Time Timezone EEST UTC 0300

Tokyo Session No significant news.

London Session 

CHF exhibited a bullish trend at 630 am GMT as inflation remained flat at 0, underperforming the 0.1 forecast and improving from Julys 0.2.

CHF turned bearish at 700 am GMT despite Q2 GDP growth of 0.7, surpassing the 0.5 Q1 figure and forecasts, supported by a 2.6 rise in manufacturing.

New York Session 

USD showed bullish behaviour at 1400 pm GMT as the ISM Manufacturing PMI increased to 47.2 from 46.8, falling short of the 47.5 forecast but continuing a 21month contraction streak.

General Verdict 

CHF displayed mixed signals with a bullish start followed by bearish sentiment, while USD maintained a bullish stance…