TradingKey - O Bureau of Labor Statistics dos EUA divulgará o relatório de emprego (payroll) de agosto às 8h30 ET do dia 4 de setembro. Após os sinais hawkish emitidos pelo presidente do Fed, Warsh, e

Stock markets in the Asian region demonstrate a mixed performance as investors shift their focus to the United States (US) Nonfarm Payrolls (NFP) data for August, which will be released on Friday.

USD/IDR loses ground for the second successive day, trading around 17,730 during the Asian hours on Thursday. The currency pair experiences downward pressure as a sharp rally in the Japanese Yen (JPY) weighed heavily on the US Dollar (USD).

AUD/JPY extends its losses for the fourth consecutive day, trading around 113.50 during the Asian hours on Thursday. The Australian Dollar (AUD) remains subdued following a wave of mixed economic data from Australia and China, putting downward pressure on the currency cross.

The NZD/USD pair recovers some lost ground to near 0.5860, snapping the four-day losing streak during the early Asian session on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) following the upbeat Chinese economic data.

China's Services Purchasing Managers' Index (PMI) climbed to 51.4 in August from 50.4 in July, the latest data published by RatingDog showed on Thursday. This figure came in stronger than the market expectations of 50.6. 

Australia's Trade Balance narrowed to A$1,923M MoM in July, followed a surplus of 1,929M in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday. The market consensus was for a surplus of A$1,390M. 

The EUR/USD pair holds steady near 1.1590 during the early Asian session on Thursday. The potential upside for the major pair might be limited amid hawkish Federal Reserve (Fed) expectations and escalating conflict in the Middle East.

New Zealand Terms of Trade Index came in at -9% below forecasts (-2.2%) in 2Q

Commerzbank highlights that South Korea’s export boom and a large trade surplus, combined with a hawkish Bank of Korea, are supportive for the Korean Won. They argue that changing FX flow dynamics should allow more of the surplus to translate into KRW strength.

The Federal Reserve released its Beige Book, in which the US central bank revealed that economic activity increased modestly since early July, while overall employment rose slightly. Regarding inflation, prices rose in eight districts.

MUFG’s Lloyd Chan remains cautious on the Indonesian Rupiah as domestic inflation accelerates and Gross Domestic Product (GDP) growth stays above 5%. The trade balance has improved slightly but remains weaker than 2025 averages due to higher Oil and gas imports.

OCBC’s Sim Moh Siong and Christopher Wong note that USD/SGD is rebounding alongside a stronger US Dollar (USD), supported by higher US Treasury yields and firmer Fed hike expectations.

Scotiabank strategists Shaun Osborne and Eric Theoret describe GBP/USD as soft but mid-pack within the G10, with domestic data and Bank of England (BoE) events limited ahead of Governor Bailey’s speech.

Russia Unemployment Rate rose from previous 2.2% to 2.3% in July

TradingKey - O Bureau of Labor Statistics dos EUA divulgará o relatório de empregos não agrícolas (nonfarm payrolls) de agosto no dia 4 de setembro, no horário do Leste. Como o último conjunto complet

ING’s Carsten Brzeski expects the European Central Bank (ECB) to raise rates by 25bp next week, characterizing it as an ‘insurance’ or dovish hike. He notes Eurozone resilience, but stresses that inflation is mainly driven by energy, limiting the case for further tightening.

TD Securities’ Prashant Newnaha now expects the Reserve Bank of Australia (RBA) to raise the cash rate by 25bps to 4.60% at the late-September meeting. The change follows stronger-than-expected Q2 Gross Domestic Product (GDP) and firm discretionary consumption.

OCBC’s Sim Moh Siong and Christopher Wong highlight that higher Oil prices and renewed US-Iran tensions have pushed global bond yields higher and strengthened the US Dollar, with markets fully pricing a 25bp Federal Reserve (Fed) rate hike by October.

In an interview with CNBC on Wednesday, New York Federal Reserve (Fed) Bank President John Williams said that tariffs and the Middle East war are big drivers of inflation over target, per Reuters.

TD Securities strategists argue that Federal Reserve (Fed) decisions in election years remain driven by data rather than politics, with only a small difference in action frequencies versus non-election years.

United States (US) Commerce Secretary Howard Lutnick said during the European trading session on Wednesday that there will be a tariff relief if the company builds in the US.

India’s macroeconomic outlook has strengthened following a sharp Q1-FY27 Gross Domestic Product (GDP) print of 7.8%, prompting financial institutions to upgrade both medium-term growth projections and interest rate expectations.

Commerzbank’s Antje Praefcke notes that markets are fully pricing an European Central Bank (ECB) rate hike next week after Euro Area inflation rose to 3.3%, but she doubts further tightening beyond September as projections show inflation declining into 2027.

EUR/CAD gains ground for the second successive day, trading around 1.6120 during the European hours on Wednesday. The currency cross gains ground as the commodity-linked Canadian Dollar (CAD) faces pressure from declining oil prices.

ING’s Chris Turner notes the Dollar is holding gains after Kevin Warsh’s hawkish comments and a renewed spike in energy prices, with markets now expecting a Federal Reserve rate hike in September.

USD/IDR extends its gains for the second successive day, trading around 17,810 during the European hours on Wednesday.

Societe Generale’s Kunal Kundu now expects the RBI to deliver three 25bp rate hikes, taking the repo rate from 5.25% to 6.00% by early 2027, versus two hikes previously.

Here is what you need to know on Wednesday, September 2:

Deutsche Bank’s Jim Reid notes that rising nominal and real yields pressured global equities, with US and European stocks falling and losses extending across Asia. US technology shares underperformed, while European declines were more moderate.