What you need to know on Tuesday, September 3
Publish Date : 2019/09/03 - 07:59

What you need to know on Tuesday, September 3:

GBP/USD is trading close to the 2019-low of 1.2015 due to the critical day in the UK parliament. The opposition will start an emergency meeting for passing a legislation to force the government not to leave without a deal. If it passes, the government will have to ask for a 3-month extension to January 31. PM Boris Johnson reiterated that he will not agree for an extension beyond October 31, hinting that he will be forced to call for an election, probably for October 14th.

EUR/USD is moving toward new lows under 1.0950, the lowest since 2017. The US dollar is strengthening. The European Central Bank's September 12 decision is eyed.

The US and China are unable to agree on a date to hold trade talks. The US slapped tariffs on Chinese imports over the weekend.

The Reserve Bank of Australia has left the interest rate unchanged at 1% as expected and left the door wide open to cutting rates later. AUD/USD trades close to 0.67. Australian retail sales dropped by 0.1%.

US ISM Manufacturing PMI stands out in the economic calendar with a score just above 50 expected. The data serves as a hint towards Friday's Non-Farm Payrolls.

Cryptocurrencies have recovered with Bitcoin trading above $10,000 once again.

Gold and oil are steady.

Source: Fxstreet

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