This article has been translated from English to Gen Z Slang.
Yo, global flash PMIs are kinda serving optimism on business vibes, making some risk rallies pop off here and there. 💫
But TBH, the dollar flexed with dominance for most of the day, as traders geared up for Fed boss Powell’s big moment at the Jackson Hole vibes. 😅
Peep how the major asset crews did in the latest trading sessions. 🚀
Tea Time (aka Headlines):
-
New Zealand Balance of Trade for July 2025: -0.58B (expected 0.1B; past 0.14B)
- New Zealand Exports for July 2025: 6.71B (expected 6.7B; past 6.63B)
- New Zealand Imports for July 2025: 7.28B (expected 6.1B; past 6.49B)
- New Zealand Credit Card Spending for July 2025: up 1.4% year-over-year (previously 0.9% yo)
- Australia S&P Global Services PMI Flash for August 2025: 55.1 (expected 54.4; past 54.1)
- Australia S&P Global Manufacturing PMI Flash for August 2025: 52.9 (expected 51.5; past 51.3)
- Japan S&P Global Manufacturing PMI Flash for August 2025: 49.9 (expected 49.4; past 48.9)
- Japan S&P Global Services PMI Flash for August 2025: 52.7 (expected 52.8; past 53.6)
- Australia Consumer Inflation Expectations for August 2025: 3.9% (expected 4.4%; past 4.7%)
- Swiss Balance of Trade for July 2025: 4.3B (expected 4.5B; past 4.3B)
- U.K. Public Sector Net Borrowing Ex Banks for July 2025: -1.05B (expected -2.1B; past -20.68B)
- Germany HCOB Services PMI Flash for August 2025: 50.1 (expected 50.3; past 50.6)
- Germany HCOB Manufacturing PMI Flash for August 2025: 49.9 (expected 48.7; past 49.1)
- Euro area HCOB Services PMI Flash for August 2025: 50.7 (expected 50.8; past 51.0)
- Euro area HCOB Manufacturing PMI Flash for August 2025: 50.5 (expected 49.7; past 49.8)
- U.K. S&P Global Services PMI Flash for August 2025: 53.6 (expected 51.7; past 51.8)
- U.K. S&P Global Manufacturing PMI Flash for August 2025: 47.3 (expected 48.6; past 48.0)
- Euro area Construction Output for June 2025: up 1.7% year-over-year (expected y/y 1.7%; past y/y 2.9%)
- U.K. CBI Industrial Trends Orders for August 2025: -33.0 (expected -25.0; past -30.0)
- U.S. and EU busted out a joint statement saying auto tariff relief could pop up in a few weeks ⏳
- Canada CFIB Business Barometer for August 2025: 47.8 (expected 50.8; past 50.9)
- Canada Producer Prices Index Growth Rate for July 2025: rollin’ with 2.6% y/y (expected 1.9%y/y; past 1.7%y/y)
- Canada Raw Materials Prices for July 2025: 0.3% m/m (expected 0.9%m/m; past 2.7%m/m); 0.8% y/y (expected 1.3% y/y; past 1.1% y/y)
- U.S. Initial Jobless Claims for August 16, 2025: 235.0k (past 224.0k)
- U.S. Philadelphia Fed Manufacturing Index for August 2025: -0.3 (expected 9.0; past 15.9)
- U.S. S&P Global Manufacturing PMI Flash for August 2025: 53.3 (expected 49.7; past 49.8)
- U.S. S&P Global Services PMI Flash for August 2025: 55.4 (expected 53.0; past 55.7)
- Fed official Schmid kept it 100 that inflation beats employment dips
- Fed official Hammack threw shade, saying both parts of the central bank’s dual focus - inflation and jobs - are getting squished under pressure
- Euro area Consumer Confidence Flash for August 2025: -15.5 (expected -14.4; past -14.7)
- U.S. CB Leading Index for July 2025: -0.1% m/m (expected -0.2%m/m; past -0.3%m/m)
- U.S. Existing Home Sales for July 2025: poppin’ 2.0% m/m (expected -0.2%m/m; past -2.7%m/m)
Vibe Check on Market Prices:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
The Asian session? Kinda like watching paint dry - just vibing in a range while peeps brace for big catalyst action ahead. 😴
Crude oil out here doing its own thing, climbing up with geopolitical drama keeping those sanction and supply jitters high. Plus, that PMI love didn’t hurt, hyping stronger demand and cheering for the EU-US collab on possible auto tariffs chill. 🚗🔧
U.S. Treasury yields started flexing higher during the London session, with dollar strength pumping up for Fed honcho Powell's chat at the Jackson Hole Symposium today. Analysts expecting some cautious vibes, so mid-tier U.S. data and flash PMIs are giving a more optimistic wink. 😎
U.S. equities took a lil' dip due to rate boot-up expectations, cramping the spend-and-invest vibes. Gold and bitcoin also cruised down the bearish highway, probably bogged down by that dollar domination. 📉
FX Market Behavior: Yo vs. Majors:
Overlay of USD vs. Majors Chart by TradingView
The dollar's been on its alpha grind, with folks tweaking portfolios for what might go down in Powell's Jackson Hole speech. 🚀
However, some dents against major pals emerged thanks to those sweet PMI numbers. Australia flexed some quick growth moves in both manufacturing and services, while Japan showed up with a solid manufacturing vibe making it look like the industry is leveling up. 🇦🇺🇯🇵
In it for the Eurozone, manufacturing flexed with an unexpected glow-up, while France had a chill slower contraction in services. The UK's mixed bag didn't spoil sterling's shine despite the manufacturing scene catching Ls. 🇪🇺🇫🇷🇬🇧
Dollar kept winning during London, paused for a sec when U.S. jobless claims and the Philly Fed index threw numbers on the downside, but bounced back like a slingshot as Fed chatter amped up on inflation taking more Ls over employment. 🔥
By closing bell: Dollar was flexing overall, especially against JPY (+0.58%) and CHF (+0.47%) while snagging some clout against AUD (+0.16%) and NZD (+0.13%). 💪
Incoming Vibe Swings on the Econ Calendar: 📅
- U.K. Gfk Consumer Confidence at 11:01 pm GMT 💭
- Japan Consumer Price Index Growth Rate at 11:30 pm GMT 📈
- U.S. Jackson Hole Symposium at 12:00 am GMT 🏞️
- Germany GDP Growth Rate QoQ Final at 6:00 am GMT 📊
- France Business Confidence at 6:45 am GMT 🤝
- Canada Retail Sales Final at 12:30 pm GMT 🛍️
- Canada Manufacturing Sales Prel at 12:30 pm GMT ⚙️
- U.S. Fed Chair Powell Speech at 2:00 pm GMT 🎤
All eyes peepin’ on Fed Chair Powell’s keynotes at Jackson Hole later today, with dollar crews ready for any hints about whether September's getting a rate cut or not. 👀
Keep your senses sharp for any 411 from other central bank peeps, 'cause their convo might just shake up future policies and overall market mood. 💥
And you know the drill. Keep an eye on global trade tea and geopolitical headlines, 'cause they might just flip the risk script. Stay woke and be sure to hit up our Forex Correlation Calculator before making any moves! 🧠💼
