(By ATFX Analyst Team)
Key TakeawaysThe largest U.S.-Iran military clash since July has heightened concerns about a broader conflict. Despite recent losses, both U.S. stocks and gold rebounded yesterday on bargain-hunting demand. The Fed’s latest Beige Book reported modest economic growth, slight job gains, and moderate price increases across the U.S. However, the August ADP employment change was soft, suggesting the September Fed meeting is in no hurry to hike rates. Investors are waiting to see Friday’s Nonfarm payrolls to be confirmed. Today’s focus: The market will watch the U.S. ISM Services PMI (forecast: 54.2; previous: 54.1) for clues about economic momentum. The Eurozone PPI (forecast: 1.2% m/m; previous: -0.3%) will offer insight into inflation trends and may influence ECB rate expectations for September. |
Global Market Review 03/09/2026
- All three major U.S. stock indices closed higher yesterday as investors bought back stocks and sectors that had recently been sold off amid rising risk aversion.
- U.S. Treasury yields retreated from multi-year highs, while the U.S. Dollar Index edged lower. Gold prices rebounded more than 1% from their lowest level in nearly a month.
- Crude oil prices closed slightly lower but stayed near six-week highs as some investors took profits after oil briefly traded above $91 per barrel.
Key Events Today:
- 07:00 AU Services & Composite PMI Final AUG **
- 08:30 JP Services & Composite PMI Final AUG **
- 09:45 CN Services & Composite PMI AUG **
- 15:55 EU GERMANY Services & Composite PMI Final AUG **
- 16:00 EU Services & Composite PMI Final AUG **
- 16:30 GB Services & Composite PMI Final AUG **
- 17:00 EU PPI MoM JUL **
- 20:30 US Balance of Trade JUL **
- 20:30 US Initial Jobless Claims ***
- 21:45 US Services & Composite PMI Final AUG **
- 22:00 US ISM Services PMI AUG ***
Sep 4 (GMT+8)
- 16:50 BoE Gov Bailey Speech ***
- 17:00 EU Retail Sales JUL **
- 20:30 US Nonfarm Payrolls AUG ***
- 20:30 US Unemployment Rate AUG ***
- 20:30 CA Unemployment Rate AUG **
Markets Analysis 03/09/2026
- Resistance: 1.1626 / 1.1669
- Support: 1.1532 / 1.1490
EUR/USD stabilised near 1.1590 after a modest rebound amid a weaker dollar. Eurozone CPI at 3.3% continues to support ECB rate hike expectations.
Analyst View: Trading below 1.1600, with the 20-day MA keeping the short-term outlook bearish.
Bias: Short-term bearish
- Resistance: 1.3528 / 1.3552
- Support: 1.3451 / 1.3427
Sterling extended losses, falling below 1.3500 and reaching fresh three-week lows.
Analyst View: As long as the pair remains below 1.3500, downside pressure may persist toward 1.3451 and 1.3427.
Bias: Short-term bearish
- Resistance: 159.32 / 159.52
- Support: 158.24 / 158.03
USD/JPY fell sharply after briefly rising above 160.00, prompting speculation of Japanese intervention.
Analyst View: After briefly rising above 160.00 to reach its highest level since late July, the pair quickly reversed lower. Technical momentum has weakened, with key support at 158.00.
Bias: Under pressure
- Resistance: 92.67 / 93.62
- Support: 89.59 / 88.63
Oil briefly traded above $91 before pulling back, while Middle East tensions continue to support supply concerns.
Analyst View: Momentum is slowing after a strong rally, suggesting near-term consolidation unless new catalysts emerge.
Bias: Moderately bullish
- Resistance: 4511 / 4555
- Support: 4324 / 4281
- Resistance: 67.87 / 69.14
- Support: 63.82 / 62.54
Precious metals edged higher as the U.S. dollar and Treasury yields retreated from recent peaks. However, ongoing tensions in the Middle East may limit gold’s upside potential, while investors remain cautious ahead of tomorrow’s U.S. Nonfarm Payrolls report.
Analyst View: Gold has rebounded above $4,400, but resistance near $4,460 and caution ahead of U.S. payrolls may limit upside.
Bias: Cautious Rebound
- Resistance: 53,530 / 53,998
- Support: 52,395 / 52,023
The Dow rebounded as easing yield and oil pressures supported cyclical stocks.
Analyst View: Holding above August lows and keeping the door open for gains above 53,000, though the ISM Services PMI remains key.
Bias: Moderate Rebound
- Resistance: 29,313 / 29,418
- Support: 29,002 / 28,870
Technology shares led the market higher, with NVIDIA and Meta gaining more than 3% and 2.5%, respectively. Following strong earnings results, Dell Technologies surged 15.8%
Analyst View: Resistance is seen near the 10-day MA around 29,300. Further gains may depend on U.S. services-sector data.
Bias: Moderate Rebound
- Resistance: 78,519 / 79,210
- Support: 76,457 / 75,590
Bitcoin edged lower on Wednesday, extending losses after posting strong monthly gains in August, as renewed U.S.-Iran hostilities and persistent uncertainty surrounding interest rates weighed on risk-sensitive assets.
Analyst View: BTC recovered above $77,000 late yesterday but remains near a two-week low. Consolidation is likely in the near term.
Bias: Range-Bound Consolidation
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