Posted on September 3, 2024 The festive day for the dollar yesterday Monday left a contained currency market with movement of the EUR/USD pair in the range between 1.1055 and 1.1075. Investors are preparing for the battery of US data this week, which begins with the publication of the ISM manufacturing for August and will end on Friday, with the figures that will determine the path to be followed by the Federal Reserve, the Non-Agricultural Payrolls for August. The market is debating between expectations of a 25 basis point cut by the FED, with a 2/3 probability, or a 50 basis point cut, with a 1/3 probability, and also with the focus on employment data and the dual mandate. The important dollar levels to watch are 1.10 as support and 1.11 as resistance. From the rest of the panel, the pound lacks directionality, fluctuating against the euro at levels of 0.8425. August manufacturing PMI data came in line with expectations and no top-tier data is expected for today's session. Swiss inflation releases early in the morning have missed expectations. The Swiss annual price index is at 1.1% compared to 1.3% in the previous month, so the EUR/CHF pair receives the news at levels of 0.9420.
Investors are awaiting US data.
