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US500 4 HOUR: Round numbers and FIBOS
Trend: Retracing (7616 = 38.2% completed with low at 7610)
Momentum: Short-term down
Pause above 7600 suggests that round numbers likely increasing in importance in the absence of any key nearby supports.
On the upside, bounce high at 7650 (on this CFD chart) suggests this level will be pivotal in setting the tone while within 7600-7700 although 7664+ would be needed to shift the risk back to 7700.
GBPUSD DAILY: Crosses driving it down Momentum: Down
Under pressure following the break of 1.3500-10, which would need to be regained to ease the risk. So far, pausing just above 1.3474, the target following the 1.3510 break.. Looking for a catalyst? Weaker GBP crosses, most notably vs. the JPY (GBPJPY down) but vs. EUR as well (EURGBP up).
USDCAD DAILY: Waiting for the BoC
Trend: Down stalled Momentum: Short-term up
Trying for a breakout above 1.3910 that would expose 1.3964 as the obstacle to a return t .40 BUT only if it becomes support. Focus goes beyond charts where the BoC is expected to keep rates unchanged (hawkish hold or not?) in contrast to expectations of rate hikes in the U.S. and elsewhere this month.
Newsquawk Daily US Opening News – 2nd September 2026
(Right click on any image (or chart) to open a full screen in a new tab)
Market Update Bond yields extending highs as crude prices off highs but remain elevated enough to spook markets.
EURUSD: 1.1562-70 remain key support (top end being tested) blocking exposing 1.1525/10/00/
US500: Facing a void of key levels so using FIBOS where 38.2% completed (low 7612), 7555 = 50% below it. Back above 7643-64 on this CFD chart needed to slow the risk
USDJPY 4 HOUR: Path of least resistance
Trend: Retracement risks stalling Momentum: Up stalled
Extending its trade around 160 to 4 days in a row. Pause just above 159.40 so far checking the downside and keeping focus on 160. Below 159.40 would shift focus from 160 to layers of support from 158.99-159.24 below it6. Meanwhile, market follows the path of least resistance buying JPY on its crosses.
XAUUSD (GOLD) DAILY: Facing a void
Trend: Short-term down Momentum: Down
Break of 4310 leaves a big void below it a 61.8% FIBO (4264) and key round numbers (e.g. 4200) . Low so far at 4282 paused above the 61.8% level but at a minimum 4310+ would be needed to slow the risk, above 4365-72 to break the momentum
COMING UP: Data: Australian GDP (Q2), South Korean Inflation (Aug), US Factory Orders (Jul), ADP Employment Change (Aug), New Zealand Terms of Trade (Q2).
Events: RBNZ Announcement, BoC Announcement, Fed Beige Book. Speakers: ECB’s Nagel; BoJ’s Takata; RBNZ’s Bremen; BoC’s Macklem, Rogers.
Supply: Australia. Earnings: Broadcom, Hewlett Packard Enterprise, Snowflake
US Market Wrap: Treasuries and stocks decline as oil rallies on intensifying US/Iran strikes
SNAPSHOT: Equities down, Treasuries down, Crude up, Dollar up, Gold down
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