The US Dollar Index dropped, and rebounded, from levels last seen in the summer in 2023 near 100.50, as investors continued to assess the prospects of lower rates in September amidst a firm economy. The final S&P Global Manufacturing PMI is due on September 3, along with Construction Spending, the RCM/TIPP Economic Optimism Index, and the always-relevant ISM Manufacturing PMI.
will release the final Manufacturing PMI for Germany and the euro zone on September 2, and will then publish the final Services PMI on September 4, followed by Producer Prices in the euro area. Factory Orders in Germany will be published on September 5, along with the Construction PMI in Germany and the broader euro zone, and Retail Sales in the EMU. On September 6, Germany’s Balance of Trade results are due, seconded by EMU’s third estimate of the Q2 GDP Growth Rate. GBP/USD could not sustain the move to fresh tops north of the 1.3200 hurdle and succumbed to the weekly U-turn in the Greenback. The final S&P Global Manufacturing PMI comes on September 2, followed by the BRC Retail Sales Monitor on September 3.