Big event week ahead
Newsquawk Week In Focus 7-11 September 2026: Highlights include US & Chinese Inflation, ECB Policy Announcement, UK GDP

*
Diesel prices in the USA hit a record high of $5.85 per gallon as of September 4, 2026. This represents a nearly 60% increase from the $3.71 per gallon average recorded one year ago.
National Average: $5.85/gal (AAA/GasBuddy)
Regional Variance: Prices are significantly higher on the West Coast, with California averaging $7.218/gal and Washington around $6.81/gal.
US Market Wrap: Hot NFP raises Fed rate hike bets ahead of CPI/PPI next week
SNAPSHOT: Equities mixed, Treasuries flatten, Crude up, Dollar up, Gold down’

Market Update (4 hour)
EURUSD shrugging off the better NFP and seems set to close (bu not too far) above 1.16, a level that has printed 6 days in a row.and thus a pivotal level going forward.
US500: Post-NFP retreat clinging to a bid after a pause just above 7700.
XTIUSD: Can’t make up its mind with limited follow through on both sides.

NAS100 (NASDAQ) 1 HOUR: Limited fallout as well
Fallout from stronger NFP limited while it trades above 29452, helped by US bond yields backing off from spike highs.
Broader look: Limit on downside while 29KJ+ trades but upside limited while below key resistance at 29748, blocks putting 30K back on the radar.

Canada jobs miss (weaker) vs. US NFP beat a double whammy for the CAD

USDJPY found some 📈buyers near the crucial 155.00 level early on Friday, a zone previously defended by FX intervention, following a sharp two-day drop from 160.00.
The focus now shifts to the US nonfarm payrolls report due at 12:30 GMT. While traders remain laser-focused on inflation after Fed Governor Waller pushed September rate-hike odds down to 50%, a solid jobs print could still prompt policymakers to hike rates
Meanwhile, Japan’s top currency diplomat, Atsushi Mimura, reiterated that Tokyo remains on high alert to intervene against excessive yen weakness

Are the vigilantes back?
Bond yields spiked across developed markets this week, with many hitting multi-decade highs, as rising deficits, elevated inflation and a surge of AI-driven corporate debt issuance left traders demanding higher compensation for the risk of holding longer-term government debt.
Far from a moral crusade by fixed income investors seeking to influence fiscal policy, this instead looks like a logical response to the economic facts on the ground, including the dawning reality that borrowing rates in many large markets are likely going to be higher for longer…. Reuters Weekend Bid

© 2024 Global View
