Last September, the S&P 500 climbed 2% but that's something of an outlier. Since the turn of the millennium, September is the worst month on the calendar for the index (by far).Now some of that is due to one-off events like the financial crisis hitting hard in September 2009 but it's a historically bad month for stock markets by any measure. I attest some of that to the return of policymakers to work following the quiet summer period. They tend to make waves and not all of them are welcomed by markets. There is also a temptation to take profits rather than risk them in the noisy final third of the year.Here are some September seasonal trends (over the past 20 years):Second worst month for the DAX (after August) but is followed by a strong three month run.September is the start of a strong three-month seasonal run in natural gas (though this is largely priced into the strip)September is the start of a weak three-month seasonal run in WTI crude oilWorst month of the year for the MSCI world indexSecond worst month for silverWorst month for goldThe last point is particularly salient given that gold is looking like it could breakout today. This article was written by Adam Button at investinglive.com.

These are heady times for the gold bulls. The previous metal is working on a five-day winning streak that's likely to continue with a $32 gain today.More importantly, it's now just a handful of dollars from the $3500 record high on April 22. There is plenty of scope for an aggressive breakout on the chart as it's been consolidating for five months in a classic wedge. I wouldn't rule out a test of $4000.On the fundamental side, Friday's news about tariffs looms. A US court struck down Trump's tariffs and the decision is inevitably headed to the Supreme Court. If the tariffs are eliminated, it would give the Fed ample ammunition to cut rates, even without Trump stacking the board.There are also increasing signs that retail is piling in as the US dollar sags and political uncertainty mounts. It's something of a perfect storm and could kick off with a break of $3500.As for how to play it, I tend to think there is still a catch-up trade in miners. GDXJ is the junior miner ETF and it's rallied but there is extreme leverage to gold prices in this index, particularly if diesel prices stay low. This article was written by Adam Button at investinglive.com.

Earlier today I shared a graphic highlighting the best-performing investments this year. Italian and Germany equities were near the top of the list and today we saw Italian unemployment fell to an 18-year low at 6.0%.Closing changes on the day:Stoxx 600 +0.1%German DAX +0.5%France CAC +0.0%UK FTSE 100 +0.0%Spain IBEX -0.1%Italy's FTSE MIB +0.4% This article was written by Adam Button at investinglive.com.

Deutche Bank is out with this chart highlighting how various assets performed in August, with all adjusted to USD. Notably, it was the US currency that was a drag, as the Dollar Index fell 2.2% in the month following Trump's war on the Fed and economic data, along with the poor July jobs report on August 1.Oil struggled again in the month while it's been a banner year for European stocks, with China increasingly catching up. Gold and silver are also having a moment. This article was written by Adam Button at investinglive.com.

I'm back from a sabbatical and ready for an interesting autumn.Four things stand out from when I was gone:1) Non-farm payrolls game changerThe huge downward revisions to non-farm payrolls led to a repricing of the Fed and now we have a Fed cut priced in for Sept 17 and a good chance of another one in October. For the year ahead, 96 bps in easing is priced in. Despite that long-end yields are higher then were at the start of July in somewhat of an ominous sign.2) Trump fired the labor statistics chiefThis is ominous and there is no way to reconcile that. It makes it impossible to feel confident in the jobs data as it rolls in. I guess we're trading off ADP and some combo of initial jobless claims and the (manipulated?) NFP number now. It's a game changer in that I don't feel particularly confident in whatever is coming out now.3) The Fed lost Kugler and possibly CookKugler quietly resigned and it was likely due to the kind of political pressure that Cook is under. Even the change of Powell, Trump didn't have the votes to dictate monetary policy but if he can replace Kugler and Cook with lackeys then we're quickly on the way to a Turkey-style situation. Naturally, gold is now approaching all-time highs.4) Courts overturned Trump tariffsMarkets aren't really running with this theme today -- perhaps due to the holiday -- but it could truly be a gamechanger. Your handicap of the Supreme Court is as good as mine but if they strike down tariffs then it will go to Congress and that's another wild card. A best-case scenario is that Trump loses that tariff card and that would lead to a big rally in growth-sensitive trades like commodities, small caps and emerging markets, along with the currencies of the US's largest trading partners.I'll have a post on September seasonals coming up later.It's great to be back! This article was written by Adam Button at investinglive.com.

There have been some rumors about Trump's health in the past few days but this tweet sounds more like President.It is very important that the Drug Companies justify the success of their various Covid Drugs. Many people think they are a miracle that saved Millions of lives. Others disagree! With CDC being ripped apart over this question, I want the answer, and I want it NOW. I have been shown information from Pfizer, and others, that is extraordinary, but they never seem to show those results to the public. Why not??? They go off to the next “hunt” and let everyone rip themselves apart, including Bobby Kennedy Jr. and CDC, trying to figure out the success or failure of the Drug Companies Covid work. They show me GREAT numbers and results, but they don’t seem to be showing them to many others. I want them to show them NOW, to CDC and the public, and clear up this MESS, one way or the other!!! I hope OPERATION WARP SPEED was as “BRILLIANT” as many say it was. If not, we all want to know about it, and why??? Thank you for your attention to this very important matter! President DJTIn an alternate timeline, Operation Warp Speed is Trump's greatest accomplishment, but he doesn't seem to want to show the numbers himself. This article was written by Adam Button at investinglive.com.

NASDAQ Futures Analysis: Key Levels for Traders Ahead of U.S. Market ReopenAs U.S. markets remain closed today for the Labor Day holiday, trading activity in NASDAQ futures has been marked by light liquidity and muted volatility. Yet, even in this quieter environment, the order flow picture offers valuable insights for both investors gauging tomorrow’s open and short-term traders looking for tactical opportunities.Order Flow Intel Recap by investingLive.comFutures tested the 23,488–23,500 resistance zone, overlapping with today’s Value Area High (VAH).Price briefly hovered above VWAP at 23,471, but the move lacked conviction.The 08:00 ET futures bar flipped sharply bearish:Delta (Bar): –170,Delta %: –5.49%,Cumulative Delta plunged back to –972.This signaled a decisive rejection at VAH and VWAP, with sellers regaining control.Key Levels to WatchResistance / Entry Zones:23,470 (VWAP): First short entry area.23,485 (just below VAH): Secondary entry for patient traders.Downside Targets:23,403: Just above today’s Point of Control (POC).23,372: Near today’s Value Area Low (VAL).23,420: A tactical level for those targeting smaller moves, aligning with Friday’s VA Low at 23,417.tradeCompass Methodology in ActionTraders applying the tradeCompass framework should emphasize risk management and staged profit-taking:First Target Hit: Lock partial profits and, given today’s low volatility, consider moving your stop to entry as early as TP1.Second Target Hit: Secure larger profits and shift stop to entry if not done earlier.Runner Logic: On thin-volume days like today, the odds of extended moves diminish — scaling out early is prudent.Investor TakeawayFor longer-term investors, today’s price action is more about signs of rejection at resistance than about absolute levels. The fact that buyers failed to establish acceptance above VAH and VWAP, coupled with aggressive negative delta in the final hourly bar, tilts the short-term bias bearish into tomorrow’s open.Prediction Score: –5 (Bearish Bias, Moderate Confidence)Why Bearish: VAH rejection, VWAP breakdown, negative delta shift.Why Moderate Confidence: Today’s holiday conditions mean volume is thin, and reversals can appear exaggerated.Bottom LineTraders: Watch 23,470–23,485 as prime resistance for shorts, with downside targets of 23,403 and 23,372. Use tradeCompass discipline — partial profits and stops to entry.Investors: Take note of today’s failed breakout as a caution flag. Tomorrow’s full market open will test whether this bearish signal carries weight when real volume returns.⚠️ Trade at your own risk. This analysis is for decision support, not financial advice. Visit investingLive.com for additional views. This article was written by Itai Levitan at investinglive.com.

Alibaba’s AI, Cloud, and Growth Strategy – Investor Q&AQ: What did Alibaba report in its latest earnings, and how did the market react? A: In its most recent quarterly report, Alibaba’s revenue rose modestly, but its cloud business jumped 26% year over year, far outpacing expectations. That growth was fueled by strong demand for artificial intelligence services. Investors cheered: Alibaba’s Hong Kong-listed shares surged 19% to a three-year high, while the U.S.-listed ADRs gained nearly 13% in a single session. According to Reuters, the rally came even though Alibaba’s overall revenue missed forecasts slightly, showing how much weight the market now places on its cloud and AI momentum.Q: Why was Alibaba’s cloud and AI business such a big deal this quarter? A: Alibaba Cloud is becoming a new growth engine. Management highlighted that AI-related services delivered triple-digit percentage growth. The company invested heavily in infrastructure, and those efforts are paying off with accelerating cloud demand from enterprises. For investors, this shows Alibaba is no longer just an e-commerce company but a broader tech leader.Q: How is Alibaba investing in AI and cloud services within China? A: Alibaba has plowed more than ¥100 billion into AI infrastructure in the past year. It is integrating AI into nearly all its platforms, from e-commerce recommendations to business chat tools. The strategy is clear: anchor future growth on AI and cloud, supported by its huge consumer ecosystem.Q: Does Alibaba have its own AI products? A: Yes. Its large language model, Tongyi Qianwen, is already in use across apps like Taobao and DingTalk. These tools help consumers shop smarter and businesses operate more efficiently. Alibaba is building a Chinese alternative to tools like ChatGPT, but focused on domestic needs and regulations.Q: How does Alibaba compare to Amazon and Microsoft in cloud growth? A: Alibaba’s cloud business grew 26% year-on-year, in line with Microsoft’s cloud growth and faster than Amazon Web Services at about 17%. But in absolute numbers, Alibaba Cloud is still much smaller. Its quarterly revenue is about $4.7 billion compared with over $30 billion at AWS. Alibaba dominates China’s cloud market, while Amazon and Microsoft lead globally.Q: What guidance did Alibaba give? A: While not providing formal targets, management stressed that AI and cloud will drive “robust growth” in the years ahead. That reassurance matters because Alibaba’s core e-commerce is maturing. The company wants investors to focus on its newer growth pillars.Q: How is its e-commerce business holding up? A: Domestic commerce grew about 10% year-on-year, but competition from JD.com, Pinduoduo, and Douyin is intense. Alibaba is spending heavily on quick commerce (like one-hour delivery), which pressures margins in the short term but builds long-term customer loyalty.Q: How do U.S.-China tensions affect Alibaba? A: Export restrictions on advanced chips directly hit Alibaba’s cloud strategy. In fact, Alibaba canceled a planned spin-off of its cloud business, citing U.S. restrictions. Geopolitical risks remain an overhang, even though Alibaba’s consumer base is mostly domestic. CNN has reported how Washington’s limits on advanced chip exports are shaping strategies for Chinese tech giants like Alibaba.Q: What about Chinese regulation at home? A: The harsh crackdown that started in 2020 appears to have eased. Alibaba still faces oversight, but Beijing has pivoted to encouraging growth. Regulators now see big tech as essential for boosting China’s economy, though new rules around data and AI keep the guardrails in place.Q: Is Alibaba showing resilience? A: Yes, despite regulatory storms and fierce competition, Alibaba has stabilized, stayed profitable, and found new growth paths. The stock has bounced significantly in 2025. Still, external risks mean investors need to stay cautious.Q: Why does all this matter for long-term investors? A: Alibaba is transforming into more than an e-commerce company. It’s becoming a pillar of China’s push into cloud and AI. For long-term investors, this means potential exposure to the next decade’s growth themes – but also exposure to geopolitical and regulatory uncertainty. The payoff could be significant, but so could the risks.BABA Stock Technical Analysis and Trade IdeaFrom a technical perspective, Alibaba shares are trading inside a rising channel, with two clear touchpoints on both the upper and lower bands. The stock gapped nearly 13% higher on earnings, finishing close to its session high – a bullish sign of conviction.A possible trade setup is looking for a retracement entry around $131.86, slightly below the current price. The idea is that after such a sharp post-earnings jump, some pullback is natural before the stock resumes higher.Entry: around $131.86 (orientation, not guaranteed)Stop-loss: $120.70 (about -8.5% risk), below the August 28 high before the earnings gap-upProfit Targets:First target: $162.26Second target: $171.42 (about +30% upside from entry)Third target: $186.56This setup offers a reward-to-risk ratio of about 3.5, risking 8.5% to aim for nearly 30%. It’s a patient trade, banking on Alibaba continuing its drift upward within the channel. With China’s broader tech sector showing resilience and Alibaba’s fundamentals improving, the technicals align with the fundamental story.That said, timing an entry perfectly is difficult. Traders and investors should use their own time frames and indicators to fine-tune, and always trade at their own risk. Long-term investors can see this as part of a gradual move higher, remembering that Alibaba’s all-time high was above $300, leaving plenty of room for recovery if momentum holds.This is an opinion and not financial advice. You must do your own research on Alibaba and BABA stock, and always invest and trade at your own risk only. Visit investingLive.com for additional perspectives. This article was written by Itai Levitan at investinglive.com.

Headlines:Tariffs quagmire dominates the setting to start the weekWhat does September normally have in store for markets?Gold eyes upside break to kick start September tradingThe surge in gold prices in not good news: an explainer on what's driving itECB's Lagarde: As of itself, French banking system is not a source of riskECB's Lagarde: US court challenge to Trump tariffs adds another level of uncertaintyEurozone July unemployment rate 6.2% vs 6.2% expectedEurozone August final manufacturing PMI 50.7 vs 50.5 prelimUK August final manufacturing PMI 47.0 vs 47.3 prelimUK July mortgage approvals 65.35k vs 64.40k expectedUK August Nationwide house prices -0.1% vs +0.2% m/m expectedSwitzerland August manufacturing PMI 49.0 vs 46.9 expectedSNB total sight deposits w.e. 29 August CHF 472.3 bn vs CHF 469.5 bn priorMarkets:EUR and NZD lead, JPY lags on the dayEuropean equities lightly higher; S&P 500 futures flatGold up 0.7% to $3,471.31WTI crude up 1.0% to $64.64Bitcoin up 0.3% to $108,657The big story over the weekend was the ruling by a US federal appeals court in deciding that Trump's tariffs are mostly illegal. That has the potential to open up a can of worms, with the decision now set to be appealed to the US Supreme Court by 14 October.The mess is distracting markets a little but with it being a holiday in the US and Canada, any semblance of chaos is at least put off for another day for now.Major currencies didn't get up to much as the dollar is just slightly on the softer side but nothing outstanding. EUR/USD is up 0.3% to 1.1720 levels but is unable to get past some short-term resistance around 1.1730-40. Meanwhile, the dollar remains little changed elsewhere with just the antipodes holding minor gains against the greenback otherwise.In the equities space, European stocks started the day higher but are now feeling a bit lethargic. With Wall Street out for the long weekend, investor appetite seems to be sapped despite the tariff headlines. The focus this week will switch to the US labour market report on Friday.One of the main movers today is gold as the precious metal climbs to fresh highs since the end of April. Buyers have got their sights on the $3,500 mark but might need an extra push to get there during the week. As gold powers through, silver is also shining brightly as it jumps up to hit the $40 mark for the first time since 2011. The move higher mostly came in Asia trading with just a light extension during European morning trade.As we get into September trading, the key drivers will be US data and how that will impact the Fed outlook. We will get non-farm payrolls to work with this week before switching the focus to inflation numbers next week. And then the week after, it's all on the Fed. This article was written by Justin Low at investinglive.com.

Fundamental OverviewThe USD finished last week at the lows despite the lack of meaningful catalysts. Overall, it just maintained the bearish bias triggered by Powell’s dovish tilt at the Jackson Hole Symposium. This week, traders will be focused on the US labour market data, culminating in the NFP report on Friday. In fact, the data will influence interest rates expectations greatly. Right now, the market is pricing an 89% probability of a rate cut in September and a total of 55 bps of easing by year-end. Strong data might take the probability for a September cut towards a 50/50 chance but will certainly see a more hawkish repricing further down the curve and likely support the dollar. Soft data, on the other hand, will likely see traders increasing the dovish bets with a third cut by year-end being priced in and weighing on the greenback.On the EUR side, the currency weakened across the board in the first part of last week due to some French political drama. But as it usually happens with political stuff, the market quickly reversed the moves and eventually we got back to the levels seen after Powell’s dovish tilt. In terms of monetary policy, nothing has changed. Many ECB members are now taking a much more neutral approach to rate cuts. They will need significant negative data to force them to cut further. The market is pricing just 8 bps of easing by year-end and 19 bps by the end of 2026, which indicates that the easing cycle might have already ended. EURUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that EURUSD eventually rallied all the way back to the major trendline around the 1.1740 level. This is where we can expect the sellers to step in with a defined risk above the trendline to position for a drop back into the 1.16 support. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into the 1.1790 level next.EURUSD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price is getting rejected around the trendline and the most recent high around the 1.1740 level. This is going to be a strong resistance zone. The sellers have a great risk to reward setup here with a stop above the high and a target at the 1.16 support. The buyers, on the other hand, will look for a break higher to invalidate the bearish setup and extend the rally into the 1.1790 level next.EURUSD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that we have a minor upward trendline defining the bullish momentum on this timeframe. If we get a pullback, the buyers will likely lean on the trendline with a defined risk below it to keep pushing into new highs. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the 1.16 support. The red lines define the average daily range for today.Upcoming CatalystsTomorrow we get the Eurozone CPI and the US ISM Manufacturing PMI. On Wednesday, we have the US Job Openings data. On Thursday, we get the US ADP, the latest US Jobless Claims figures and the US ISM Services PMI. On Friday, we conclude the week with the US NFP report. This article was written by Giuseppe Dellamotta at investinglive.com.

Don't you just love when the first day of the new month is a Monday? It somehow makes for a fresh, clean start for markets. Or at least it gives me that sort of feeling. As we embark on September trading and the final month of Q3, let's take a look at some seasonal patterns that have typically shaped how the month has gone in years prior.For one, we usually see stocks face one of their worst months of the year. That means investors will be familiar with the tune Wake Me Up When September Ends. This year though, everything will ride on Fed expectations and the upcoming FOMC meeting decision on 17 September.In the past 20 years, September has in fact been the worst month for the S&P 500. But as mentioned, the drivers this time around might make for a different pathway. After four years of bad Septembers from 2020 to 2023, we also saw the seasonal streak snap last year with the index posting roughly 2% gains.Circling back to this year, everything will ride on expectations going into the Fed decision first and foremost. And that begins with the US labour market report this Friday, as well as Fedspeak during the week before the FOMC blackout period starts this weekend.After that, we'll move on to focusing on the US CPI report on 11 September before the Fed meets on 17 September. As things stand, traders are pricing in ~90% odds of a 25 bps rate cut for this month with ~54 bps of rate cuts by year-end.A key consideration will be the inflation numbers to see if there is any further evidence of tariffs passthrough on prices. So, keep an eye out for that.Besides that, September also marks the worst month in the past 20 years for the Nasdaq as well as the MSCI World Index. As such, it typically isn't a great month for stocks in general if you go by the standard playbook that is.Besides that, September also isn't really a good month for gold historically. The precious metal might be off to a hot start today but has typically run into trouble over the past two decades in the final month of Q3 trading.It is the second worst month in terms of performance for gold in the past 20 years with prices having fallen in 8 of the past 10 September months.The same drivers impacting stocks above will also be key for gold alongside the recent dispute on the legality of Trump's tariffs. The precious metal had a funny 2024 where it bucked the September seasonal trend amid a hot streak that started since February, before also bucking the trend in December where it stopped seven straight years of gains in the final month of the year.With gold being up in seven of the last eight months, are we also due a similar story in 2025?Lastly, let's take a look at oil to see how the September month typically shapes up for the commodity.During most years, the tail end of summer and the start of fall hasn't been too kind for oil prices. And that was the case last year as well. September is usually the middle of a bad stretch of months for oil that typically spans from August to October/November.So, that will be something to keep in the back pocket just in case when taking any views on the oil market in the month ahead. This article was written by Justin Low at investinglive.com.

Gold is of course one of the main topics of the day in the markets as the precious metal is approaching the all-time high after several months of rangebound price action. Now, this latest move higher since Friday could be just a technical squeeze and I wouldn't chase it ahead of the key US data. Nonetheless, it's a good opportunity to talk about the reasons driving it higher.The catalyst that triggered the whole rally that eventually led to a breakout of the 4-month range was of course Powell's dovish tilt at the Jackson Hole Symposium.Federal Reserve Bias and Real YieldsAnd this is the first bad news for the surge in prices. A too accomodative Federal Reserve into a strengthening economy and rising inflation.The main driver of gold prices is the change in real yields. In this case, the real yield is the difference between nominal Treasury yield and inflation expectations. When inflation expectations rise faster than nominal yields or nominal yields fall faster than inflation expectations, real yields fall and that’s positive for gold. Conversely, when inflation expectations fall faster than nominal yields or nominal yields rise faster than inflation expectations, real yields rise and that’s negative for gold.In the chart above you can see that when the Fed started to hike rates in 2022 and kept the tightening bias, gold prices kept on falling for most of the year. By the end of 2022, we reached the peak in the tightening expectations and the market started to look towards a less hawkish Fed after the first lower than expected US inflation report.That unwinding led to the first rally that extended into the summer of 2023 where hawkish data and Fed commentary led to a correction into the final part of the year. Then again, Fed's Waller was the first governor opening the door for rate cuts and eventually the Fed adopted an easing bias.Since then, gold just kept on rallying and the momentum increased when the market priced in more and more rate cuts. Of course, when we got the hawkish repricing in those aggressive cuts, we saw pullbacks like the one in November 2024 when Trump got elected and the markets expected a less dovish Fed. The problem is that Trump adopted policies that the markets expected to be stagflationary. The trade war and the tax cuts led the market to expect higher inflation with lower growth. That culminated in the "Liberation Day" when Trump unveiled much aggressive tariff rates than expected. Gold experienced a parabolic surge.Luckily, Trump reversed his aggressive tariffs and the de-escalation led to improving economic conditions. The Fed got less dovish because of the inflation threat and gold of course got stuck in a range awaiting the next direction.Now, the economic conditions are clearly improving. The tariffs saga is behind us, even though there are still minor things going on. The data is showing a strengthening economy as seen also with the latest US PMIs and Atlanta Fed GDPNow. Inflation risk is much higher than recession risk. And in the face of this, the Fed wants to cut interest rates. In fact, real yields have been falling recently and that was a tailwind for gold prices. The Fed's dovish reaction function is what continues to support gold. And that's not going to change unless they start talking about rate hikes (which looks like it's not going to happen anytime soon). The Fed might be making another policy mistake which not only could keep inflation higher for longer, but could also lead to a de-anchoring of inflation expectations. And re-anchoring them would require a painful recession.Attacks on Fed IndependenceThe second bad news is the continuous attack on Fed independence from the Trump's administration. Last week, US VP Vance made it pretty clear that they are against Fed independence in an interview with USA Today. Moreover, Trump is testing his powers of firing Fed governors with Fed governor Lisa Cook. This is all noise for now because Fed independence can be reduced or revoked only by the US Congress and it's very unlikely that it would ever happen.Nonetheless, that's a risk (and a huge one) to keep an eye on because the economic and financial consequences would be enormous. In such a scenario, gold would be the best asset to own and we would almost certainly see a once in a lifetime parabolic surge in prices. This article was written by Giuseppe Dellamotta at investinglive.com.

Prior 6.2%; revised to 6.3%After the revision, that's the lowest reading since November last year. Despite the trials and tribulations, employment conditions in the euro area continue to hold up strongly over the past year. This article was written by Justin Low at investinglive.com.

There isn't too much action to start the new week but market players will be stepping with some caution at least. That after Trump's tariffs were deemed illegal by a US federal appeals court over the weekend. That is leaving for a bit of a mess over the next few weeks, with the matter set to be escalated to the US Supreme Court next.For now, the dollar looks to be taking things in stride for the most part. Sure, the uncertainty continues to cause a dent amid more policy inconsistency and incoherence in general. But at this stage, markets can come to expect that to be part of the script when it comes to Trump's playbook.The greenback is keeping little changed today with light changes overall for the most part. It is only EUR/USD that is seen slightly higher by 0.3% to 1.1720 levels. The high earlier touched 1.1733 but is kept in check by short-term resistance around 1.1730-40 for the time being.Other major currencies are not showing all too much appetite with US markets being out today for the long weekend. Instead of FX, gold looks to be one of the more interesting ones to watch as we get things going on the week. This article was written by Justin Low at investinglive.com.

Prior 48.0Key Findings:Further mild contraction of production volumes Job losses registered for tenth consecutive monthComment:Rob Dobson, Director at S&P Global Market Intelligence “Production volumes are still showing resilience in the face of global geopolitical uncertainty and US tariff policies, with both July and August having seen only slight contractions that were milder than those suffered earlier in the year. Business confidence has also lifted to a six- month high, reflecting hopes that the trading environment is starting to settle down. “However, August also saw a steep drop in UK manufacturers' new orders, with total order books and overseas demand both falling at some of the fastest rates seen over the past two years. Weak market conditions, US tariffs and downbeat client confidence all contributed to the dearth of new contract wins. Job cuts were also reported for a tenth successive month, with factory headcounts dropping to one of the greatest extents post- pandemic. “The outlook for the sector therefore clearly remains very uncertain. With manufacturers fearing that possible government policy decisions, including potential tax increases, could further hurt their competitiveness in domestic and export markets, the upcoming Budget will likely prove very important in guiding business confidence about the year ahead.”Full report This article was written by Giuseppe Dellamotta at investinglive.com.

Prior 64.17k; revised to 64.57kNet consumer credit £1.62 billion vs £1.35 billion expectedPrior £1.42 billion; revised to £1.47 billionNet borrowing of mortgage debt by individuals in the UK fell by £0.9 billion to £4.5 billion in July. That follows from a £3.2 billion increase to £5.4 billion of net borrowing in June. Meanwhile, annual consumer credit growth firmed to 7.0% year-on-year and that is up from 6.8% in June. This article was written by Justin Low at investinglive.com.

Domestic sight deposits CHF 444.7 bn vs CHF 442.5 bn priorSwiss sight deposits jumped back up in the past week to its highest since the final week of July. Overall levels continue to stay elevated as noted following the June decision here. This article was written by Justin Low at investinglive.com.

Prior 49.8The headline reading is a 38-month high while the output index moved up to 52.5 from 50.6 previously, marking a 41-month high. A first monthly rise in new orders for over three years is also helping to lift overall business activity as the euro area economy shows continued signs of resilience in August. HCOB notes that:“The economic recovery in the manufacturing sector is broadening, as conditions are improving in six out of the eight countries for which PMIs are recorded—compared to only four countries in the previous month. As a result, the Manufacturing PMI for the eurozone has crossed the expansion threshold for the first time since mid-2022, mainly because companies have ramped up production more rapidly. “Incoming orders also offer hope for a sustainable recovery. After over three years of continuous declines, companies are now seeing a slight increase. Domestic orders have risen and are offsetting the weakening demand from abroad. In fact, the best remedy against U.S. tariffs may be to strengthen domestic demand, including within the EU internal market. The potential is significant, as the International Monetary Fund estimates that the tariff equivalent of the many non-tariff trade barriers in the EU stands at 44%. Companies may be hoping for progress here, as a certain optimism has taken hold. Many expect to produce more in 12 months than they do today. “The recovery is real but remains fragile. Inventory levels continue to decline, and the slightly accelerated drop in order backlogs shows that companies are still suffering from uncertainty. Given U.S. tariff policies and geopolitical tensions, this is hardly surprising. We see the fact that production is being ramped up and more orders are being registered in this environment as a sign of resilience.” This article was written by Justin Low at investinglive.com.

Prior was 49.1Key findings:Manufacturers remain in job-cutting modeComment:Commenting on the PMI data, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said: "These are encouraging developments for the German manufacturing sector. Output has increased for six consecutive months, and firms have received more new orders for three months in a row. This doesn’t mean that German industry is out of the woods—far from it. However, the ability to expand production despite mounting challenges is a testament to its resilience. These challenges include the looming disruption of trade relations with one of the most important non-EU markets, the United States; intensifying competition from China; and pressure on competitiveness due to a stronger euro. "German manufacturers are fighting on multiple fronts. Output prices remain under pressure, the backlog of orders continues to shrink, and foreign demand for goods declined in August after a few stronger months. In response, firms have cut even more jobs than in the previous month. The silver lining is that labour productivity is rising, as output continues to grow at a solid pace. "The growth in output is being driven primarily by the investment goods sector, where the index has reached a 28-month high. The intermediate goods sector has also contributed to the expansion, while the consumer goods sector—which includes pharmaceuticals and food products—is stagnating. Overall, we see an upward trend in output, which should be supported by expansionary fiscal policy, including increased investment in infrastructure and defence.” This article was written by Giuseppe Dellamotta at investinglive.com.

Prior 48.2Key Findings:Contractions in total and new export orders ease sharply since July Slight pick-up in confidence, but expectations remain subduedComment:Commenting on the PMI data, Jonas Feldhusen, Junior Economist at Hamburg Commercial Bank, said: “The contraction phase in French manufacturing now appears to be over. In August, the sector recorded an improvement in conditions for the first time in over two years. France thus seems to be assuming an increasingly stabilizing role for the Eurozone’s manufacturing sector – according to the latest PMI data. Nonetheless, the situation remains fragile in light of numerous challenges such as tariffs and intense international competition. Still, the conclusion of the US-EU tariff agreement has established a clearer trade framework, and the resulting reduction in uncertainty is likely to have restored a minimum level of planning security for businesses. “Employment saw a surprising uptick in August, lending support to the overall headline Manufacturing PMI. It is also encouraging to note that the declines in demand and production have noticeably eased. These impulses are promising, though they should be interpreted with caution. The rise in employment was primarily driven by an increase in temporary contracts and temporary work, anecdotal evidence revealed. “In purchasing and inventory management, no sustainable recovery is yet visible. Companies have been reducing purchasing volumes for over three years. At the same time, delivery times worsened, possibly due to tariff-related factors, which, combined with reduced purchasing activity, is leading to a drawdown in inventories. "The sharp increase in input costs this month has likely prompted firms to tighten their inventory strategies. Anecdotal evidence suggests that the cost increases are mainly attributable to higher wages and raw material prices. However, intense competition is making it difficult for producers to pass these costs on to end customers.” This article was written by Justin Low at investinglive.com.