Morning Juice – US Session Prep (2nd September)

Sentiment
The dollar rose across the board, as a rise in global bond yields led to selling in the euro, the pound and other FX. Treasury yields climbed, driving the 30-Yr rate to its highest in more than a month.

Equities declined alongside bonds, pushed by worries over government finances and lingering inflation risks at a time when stocks are floating near all-time highs.

USD/JPY climbed 1.1% to about 148.79. The yen expanded losses after Secretary-General Moriyama said he intended to step down. The yen had been pressured earlier in the day after BoJ’s Himino avoided hawkish comments in a speech.

The yield on long-dated UK bonds climbed to the highest since 1998 and the pound declined, putting pressure on PM Starmer’s government to regain the confidence of investors who remain concerned over the fiscal outlook.

Docket
9.45 ET
US S&P Manufacturing PMI Final for August
Forecast: 53.3 | Prior: 53.3 | Range: 53.7 / 53

10:00 ET
US ISM Manufacturing PMI for August
Forecast: 49 | Prior: 48 | Range: 51 / 47.4

Speakers
08:45 ET
ECB’s Muller Speaks

14:00 ET
Trump makes announcement

Good Luck!