<p>Headlines:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/dollar-holds-firm-so-far-on-the-session-20220901/“>Dollar holds firm in European trading</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/equities-stay-under-pressure-so-far-on-the-day-20220901/“>Equities stay under pressure, no lasting relief this week</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/eus-von-der-leyen-to-outline-ideas-for-energy-price-caps-on-14-september-20220901/“>EU’s von der Leyen to outline ideas for energy price caps on 14 September</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/icymi-chinas-chengdu-and-its-21-million-population-enters-lockdown-20220901/“>ICYMI: China’s Chengdu and its 21 million population enters lockdown</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/eurozone-august-final-manufacturing-pmi-496-vs-497-prelim-20220901/“>Eurozone August final manufacturing PMI 49.6 vs 49.7 prelim</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/germany-july-retail-sales-19-vs-00-mm-expected-20220901/“>Germany July retail sales +1.9% vs 0.0% m/m expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/uk-august-final-manufacturing-pmi-473-vs-460-prelim-20220901/“>UK August final manufacturing PMI 47.3 vs 46.0 prelim</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/uk-august-nationwide-house-prices-08-vs-01-mm-expected-20220901/“>UK August Nationwide house prices +0.8% vs +0.1% m/m expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/switzerland-august-cpi-35-vs-34-yy-expected-20220901/“>Switzerland August CPI +3.5% vs +3.4% y/y expected</a></li></ul><p>Markets:</p><ul><li>USD leads, EUR lags on the day</li><li>European equities lower; S&P 500 futures down 0.3%</li><li>US 10-year yields up 6 bps to 3.193%</li><li>Gold down 0.6% to $1,700.63</li><li>WTI crude down 1.3% to $88.35</li><li>Bitcoin down 0.6% to $20,080</li></ul><p style=““ class=“text-align-justify“>With one more day to go to the US jobs report, the dollar is back in favour again as we flip the page from August to September. Equities and bonds were sold off since Asia trading and that is also helping to keep the dollar in control today.</p><p style=““ class=“text-align-justify“>The news front in Europe wasn’t too significant but China is locking down yet another city, its largest one since Shanghai at the start of the year. But as we continue to count down to the Fed in the bigger picture, the dollar continues to maintain its allure while risk trades are looking rather soft towards the end of the week.</p><p style=““ class=“text-align-justify“>EUR/USD fell from 1.0030 to near parity and is holding at the lows now, while USD/JPY hit its highest levels since 1998 in Asia trading before holding just under that around 139.20-40 levels in Europe. The pound continues to suffer with GBP/USD slipping to 1.1550 and is holding near the lows now, down 0.5% to 1.1560 levels.</p><p style=““ class=“text-align-justify“>Meanwhile, USD/CAD is pulling higher towards 1.3200 while AUD/USD briefly dropped below 0.6800 but is now down 0.1% to 0.6830 on the day.</p><p style=““ class=“text-align-justify“>There is little relief in the equities space with European indices pressured lower by over 1% while US futures have kept lower throughout the session as well.</p><p style=““ class=“text-align-justify“>It’s a brand new month but we’re still carrying over the same old themes from the past few weeks. So, carry on as you will until we get to the NFP release tomorrow and then the long weekend in the US.</p>

This article was written by Justin Low at www.forexlive.com.

<ul><li>Prior 25.81k</li></ul>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>There is no lasting relief for stocks so far this week as the selling continues for another day. European indices are pressured lower today alongside US futures, which look set to make for a rough open once Wall Street gets out of bed later in a few hours. The technicals are also not looking too pretty so that’s a warning sign as well (<a target=“_blank“ href=“https://www.forexlive.com/news/eurostoxx-futures-07-in-early-european-trading-20220901/“ target=“_blank“>DAX </a>and <a target=“_blank“ href=“https://www.forexlive.com/news/equities-fail-to-find-any-lasting-relief-so-far-this-week-20220901/“ target=“_blank“>S&P 500</a>). Here’s a snapshot of the situation at the moment:</p><ul><li>Eurostoxx -1.3% </li><li>DAX -1.2%</li><li>CAC 40 -1.3%</li><li>UK FTSE -1.4%</li><li>S&P 500 futures -0.7%</li><li>Nasdaq futures -1.0%</li><li>Dow futures -0.5%</li></ul>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>Socioeconomic pressures are rising across the world as cost-of-living worries and soaring inflation make for tough times, and this is but another small episode. Lufthansa says that some flights today will also be cancelled and it could not rule out further cancellations or delays over the weekend as well.</p><p style=““ class=“text-align-justify“>One of the more striking scenes with regards to worker strikes as of late was the Edinburgh ‚bin strike‘ – which lasted for 12 days. The images were quite something:</p>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>A light revision higher but it reaffirms that the Italian economy performed rather decently in Q2, much like most of the region. However, the real challenge will be in the second-half of the year with domestic politics also being an issue for the economy.</p>

This article was written by Justin Low at www.forexlive.com.