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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Many leading indicators are flashing red for the US economy.
Yesterdays manufacturing data was lack lustre, and this is in line with previous market data that shows a subdued US economy.
So it's eyes down for the non farm payroll number on Friday. Current predictions expect 160,000 jobs to have been added in August.
Anything significantly less than that could be a real blow.
This is on the back of the dovish comments from Jerome Powell, the FED Chair, who indicated rate cuts are a foregone conclusion.
The last 24 hours have seen stock markets, and in particular, the NASDAQ in the US, take a hit.
Nvidia, the AI chip manufacturer, led the way down with 10% being wiped off their share price.
Outside of this the FX markets have remained relatively steadfast as the market turmoil has been global, so no one currency has come out on top.
More leading indicators are scheduled for today with the services sector reporting on the state of the global purchasing position.
Alongside this the Bank of Canada is expected to cut its base rate by 25 points to 4.25%.
Watchers of the Australian Dollar and the New Zealand Dollar should be mindful of the Australian trade balance and a speech by the RBA Governor in the early hours of tomorrow.
Business news naturally centres on the global market meltdown with smatterings of hope for a swift recovery.
EUR: 09:00 Services PMI
UK: 09:30 Services PMI
CAN: 14:45 Bank of Canada Interest Rate Decision
AUS: Thursday 02:30 Trade Balance
AUS: Thursday 03:00 RBAs Michelle Bullock Speech
As ever we look forward to keeping you in the loop and look out for our next update.
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