What drives the market on September 3?

What drives the market on September 3?


  • The US dollar continues edging higher, pushing riskier currencies and gold to the downside. At the same time stock indices are climbing up to fresh highs, driven by vaccine hopes. It’s said that Moderna and Pfizer are planning to distribute Covid-19 vaccines as early as October. However, investors have some fears over the political pressure on the Center for Disease Control to rush the vaccine approval ahead of the US president elections.
  • Yesterday ADP came out much less than analysts anticipated. Only 428 000 people have found jobs in August, while the forecast was 1.25 million. As you may know, the ADP report is often used as an initial assessment of the US labor market and helps to predict what will be the NFP like. Nevertheless, the last two times ADP reports failed to play this role as they came out worse than the forecasts, while NFP came out better.
  • Traders are waiting for unemployment claims at 15:30 MT time today and ISM Non-Manufacturing PMI at 17:00 MT time for some hints ahead of the Friday’s NFP.

Check the economic calendar

Technical tips


As for the euro, it is dipping down not only because of the rising US dollar, but also concerns of the ECB that the stronger euro may threaten the EU recovery. Let’s look at the charts. EUR/USD has just broken down the key support of 1.8000 and keeps falling down. The move below the lower trendline near the support of 1.1770 will drive the pair to the low of August 12 at 1.1715. Resistance levels are at 1.1800 and 1.1850.


S&P 500

S&P 500 has set a record high yesterday, almost touching the 3 600 mark. If it manages to cross this level, it will jump to the key psychological mark of 3 650. Support levels are at 3 550 and 3 500.



Let’s move on to gold. XAU/USD was fluctuating inside of the triangle and finally it broke it down. If it falls below the support of $1 930, the way to the next support of $1 910 will be clear. Resistance levels are at $1 950 and $1 990.



Finally, let’s discuss USD/JPY. The pair keeps rallying upward. If it crosses the high of August 26 at 106.50, the doors towards the high of August 28 at 106.70 will be open. Support levels are at the key psychological mark of 106.00 and at the low of September 1 at 105.70.


Follow US PMI report and unemployment claims!


Inflation Risks Return To The Markets
Inflation Risks Return To The Markets

Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!

ECB Key Rate is in Focus
ECB Key Rate is in Focus

ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.

Latest news

Fed’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera