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Dear Client,

Please find our updated Trading schedule and general information related to the US Labor Day on Monday, 2 September, 2024.

Liquidity over the holidays is expected to be particularly thin so please take the necessary precaution to ensure that you are not affected by increased volatility, spreads and intermittent pricing.

All times mentioned below are Platform time (GMT +3).

Forex & Crypto Pairs:

Precious Metals:

Spot Energies:

Indices:

Energy Futures:

Soft Commodities Futures:

Indices Futures:

Bonds Futures:

Equities:

Kind regards,

IC Markets Global.

The post US Labor Day Trading Schedule 2024 first appeared on IC Markets | Official Blog.

Dear Client,

Please find our updated Trading schedule and general information related to the Chinese Mid Autumn Festival Day on Wednesday, 18 September, 2024.

Liquidity over the holidays is expected to be particularly thin so please take the necessary precaution to ensure that you are not affected by increased volatility, spreads and intermittent pricing.

All times mentioned below are Platform time (GMT +3).

Kind regards,

IC Markets Global.

The post Chinese Mid Autumn Festival Holiday Trading Schedule 2024 first appeared on IC Markets | Official Blog.

• Prior was +4.8%
• Index 70.2 vs 74.3 prior (lowest ever)

The index shows how far pending home sales have fallen. There was a big jump last month but it’s right back into the doldrums now and below the pandemic lows.

According to NAR Chief Economist Lawrence Yun, “A sales recovery did not
occur in midsummer. The positive impact of job growth and higher
inventory could not overcome affordability challenges and some degree of
wait-and-see related to the upcoming U.S. presidential election.”

Regionally, the midwest and south r

This article was written by Adam Button at www.forexlive.com.

Dear Client,

Please find our updated Trading schedule and general information related to the South Africa’s Heritage Day on Tuesday, 24 September, 2024.

Liquidity over the holidays is expected to be particularly thin so please take the necessary precaution to ensure that you are not affected by increased volatility, spreads and intermittent pricing.

All times mentioned below are Platform time (GMT +3).

Kind regards,

IC Markets Global.

The post South Africa’s Heritage Day Holiday Trading Schedule 2024 first appeared on IC Markets | Official Blog.

• Iraq cancelled a spot cargo of 1 million barrels in August to reduce exports

Iraq produced around 4.25 million barrels per day in July but there has been significant variance in the past year, though rarely as low as 3.85-3.9m bpd.

This article was written by Adam Button at www.forexlive.com.

S&P 500 futures are up a modest 16 points, or 0.3%, to 5627. That’s an impressive performance given that shares of Nvidia are down 3% in the premarket following yesterday’s earnings report.

Futures had traded as low as 5561 following NVDA earnings but the dip buyers have stepped in and that’s a good sign for the broader market. I’d warn though that September seasonals aren’t great.

This article was written by Adam Button at www.forexlive.com.

The US dollar is higher across the board following a better-than-expected reading on GDP and in-line initial jobless claims numbers. The growth figures highlight an economy that’s just fine. In particular, the consumer spending number was +2.9% compared to the +2.0% reading expected.

With these numbers, I find it hard to believe the Fed will cut by 50 bps in September, even if non-farm payrolls are weak. Pricing has fallen to a 32% chance from 36% yesterday.

Much of this latest move is centered in USD/JPY, which is up 100 pips in the aftermath of the data. Other pair have moved around 20 pips. That suggests that economic data isn’t the whole story and that month-end flows might be a significant driver following one of the most-volatile months in USD/JPY ever.

This article was written by Adam Button at www.forexlive.com.

• Advance Q2 reading was +2.8% annualized
• Final Q1 reading was +1.4% annualized

Details:

• Consumer spending +2.9% vs +2.0% advance
• Consumer spending on durables+4.9%
• GDP final sales 2.2% vs +2.0% advance
• GDP deflator +2.5% vs +2.3% advance
• Core PCE +2.8% vs +2.9% advance
• Business investment +4.6% vs +5.2% advance
• PCE services inflation excluding energy and housing 2.3% vs 3.3% advance
• Corporate profits prelim +1.7% vs -2.7% prior

Contributors and subtrators to the 3.0% growth:

• Consumption: +1.95% (vs +1.57% advance, last quarter +0.98%)
• Government: +0.46% (vs +0.53% advance, last quarter +0.31%)
• Net International Trade: -0.77% (vs -0.72% advance, last quarter -0.65%)
• Inventories: +0.78% (vs +0.82% advance, last quarter -0.42%)

This article was written by Adam Button at www.forexlive.com.

• Initial claims 231K vs 232K expected and 232K prior (revised to 233K).
• Continuing claims 1868K vs 1870K expected and 1863K prior (revised to 1855K).
• The continuing claims data pertains to the NFP survey week.

From the jobless claims perspective, the labour market is still doing pretty well.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

• Prior month was 0.2% (revised to 0.1%).
• Wholesale inventories advanced for July 0.3% versus 0.2% estimate.
• Retail inventories ex auto 0.5% versus 0.2% prior month (revised to 0.3%).

This article was written by Giuseppe Dellamotta at www.forexlive.com.

• Prior was -5.37 billion

This article was written by Adam Button at www.forexlive.com.

• Prior was -96.56 billion

This article was written by Adam Button at www.forexlive.com.