Previous Trading Days Events 05.09.2024

Australia Balance of Trade Released in July 2024 at AUD 6.01B, beating expectations of AUD 5B. Positive impact on AUD.

Switzerland Unemployment Rate August 2024 release showed a rise to 2.4, up from 2.3. Negative impact on CHF.

Euro Area Retail Sales MoM July 2024 saw a 0.10 increase. Minimal impact on EUR.

Euro Area Retail Sales YoY Retail sales fell by 0.10 YoY in July 2024. Slightly negative impact on EUR. 

US ADP Employment Change Private sector added 99K jobs in August 2024, the lowest since Jan 2021, missing forecasts of 145K. July revised down to 111K. 

US Initial Jobless Claims Claims fell by 5K to 227K for the week ending Aug 31, below the 230K forecast, hitting a 7week low.

US ISM Services PMI PMI rose to 51.5 in August from 51.4, beating forecasts of 51.1. New orders increased 53, while production slowed 53.3. Employment edged up 50.2, avoiding a sixth monthly contraction. Prices rose further 57.3 amid higher costs in construction, food, and labour.

Japan Household Spending YoY In July 2024, household spending rose by 0.1 YoY, rebounding from a 1.4 decline in June but missing the 1.2 growth forecast. It marked the first increase since April, with spending up in housing 17.3, medical care 1.6, education 8.9, and culture recreation 5.6.

Winners and Losers In The Forex Market 

On September 5th, 2024, NZDCAD led the forex market, gaining 0.47 and 39.3 pips, while USDCHF was the top loser, dropping 0.30 and 25.5…