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.

Prior was 49.8Key findings:Sharpest increase in production volumes in nearly two-and-a-half years Slight rise in overall order books despite sustained drop in export sales Input and output prices fall marginallyComment:Commenting on the PMI data, Nils Müller, Junior Economist at Hamburg Commercial Bank, said: “After nearly one-and-a-half years of contraction, Italy’s manufacturing sector finally edged back into growth territory in August, with the headline HCOB PMI climbing to 50.4. This improvement was driven by a sharp rebound in output, which rose at the fastest pace since early 2023, and a slight increase in new orders. “While the expansion in new orders was modest, it marked a turning point for domestic sales, which had been under pressure for several quarters. New export orders, however, declined again, extending a near two-and-a-half-year trend of contraction (excluding May’s slight uptick), as firms continued to cite trade and geopolitical tensions as key headwinds. With output growth outpacing new orders, backlogs of work fell sharply, prompting firms to trim employment further. Although the reduction in headcounts was marginal, it coincided with a notable dip in business confidence to a four-month low, underscoring the subdued confidence among manufacturers. “Inventory and purchasing trends also reflected this restraint. Input purchases declined again, and firms drew down pre- production inventories at the fastest rate seen this year. Supplier delivery times worsened again, despite subdued demand, suggesting persistent inefficiencies in supply chains. Input costs fell slightly, supported by lower energy prices and favourable exchange rate movements. Output charges also declined, although the rate of discounting was modest. “Overall, August’s data point to a fragile recovery in Italy’s manufacturing sector. While the headline PMI signals expansion, underlying indicators suggest that firms remain cautious, awaiting clearer signs of sustained demand.” This article was written by Giuseppe Dellamotta at investinglive.com.

Prior 48.8That's a slight bounce back in Swiss business activity for the manufacturing sector but continues to keep below the 50.0 threshold for a 32nd straight month. So far, Procure notes that tariffs and other recent developments has had little effect on overall business confidence -for now at least. The higher reading in August is helped by improvements in production (55.4 | +5.8) and new orders (45.2 | +1.3). A negative point is that employment conditions worsened further (46.4 | -2.4). This article was written by Justin Low at investinglive.com.

Prior 51.9Spain's manufacturing sector posts strong business activity in August, driven by improvements in output, new orders and employment. The headline reading is the highest since October last year. Of note though, the rate of inflation rose to its highest in five months but is still relatively modest when compared to historical highs. HCOB notes that:"Spain’s manufacturing sector is sending encouraging signals: the HCOB Manufacturing PMI has risen for the fourth consecutive month, underscoring the sector’s robust trajectory since the dip at the beginning of the year. Spain thus reaffirms its leadership role in the post-pandemic economic recovery of the euro area. The country’s sustained strength could act as a catalyst for broader economic revitalization across the currency union, particularly in an environment still marked by uncertainty and fragmented demand. "Manufacturing demand picked up in August, both domestically and abroad, as reflected in the upward trend in new orders. This momentum likely fuelled production, which has now increased for the fourth consecutive month, making a notable leap in August. The positive developments on the demand side appear to be spilling over into other subcomponents; manufacturers are expanding their workforce to keep pace with rising workloads, while stocks of finished goods continue to decline due to stronger sales. Quantity of purchases rose again in August, ending a six-month stretch of contraction, a further indication that firms are adjusting to a renewed upswing in demand. "Sub-sector performance in manufacturing presents a heterogeneous landscape. The consumer goods sector remains directionless for a second month, whereas intermediate and investment goods are underpinning the recovery of the broader manufacturing economy. More broadly, input costs and output prices have edged up moderately, yet remain anchored within historical ranges, suggesting inflationary pressures are contained." This article was written by Justin Low at investinglive.com.

Eurostoxx +0.3%Germany DAX +0.3%France CAC 40 +0.3%UK FTSE +0.3%Spain IBEX flatItaly FTSE MIB +0.5%Trump tariffs being called into question is likely to be seen as a positive for Europe at this stage, even as uncertainty looms large for the US and global developments. US futures are flat for now but Wall Street won't be participating later today amid a US holiday. So, just be mindful of that. 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 JPY side, the currency has been rallying on the back of the dovish expectations for the Fed. For more JPY appreciation we will need weak US data to increase the dovish bets on the Fed or a series of higher inflation figures for Japan to price in more rate hikes than currently expected. USDJPY Technical Analysis – Daily TimeframeOn the daily chart, we can see that USDJPY continues to range below the major 148.50 resistance zone. If we get a drop into the major trendline, we can expect the buyers to step in with a defined risk below the trendline to position for a rally into the 151.00 handle. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the 142.00 handle next.USDJPY Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that we’ve been stuck in a range for the entire month as traders have been waiting for the key US data before picking a direction. There’s not much we can glean from this timeframe, as market participants will likely continue to play the range until we get a breakout on either side. USDJPY Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that we might be forming a smaller range around the support. If we get a break above the minor 147.40 resistance, we can expect the buyers to pile in to extend the rally into the 148.50 resistance next. The sellers, on the other hand, will want to see the price breaking below the support to extend the drop into new lows. The red lines define the average daily range for today.Upcoming CatalystsTomorrow we get 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 Japanese Wage Growth data and the US NFP report.Watch the video below This article was written by Giuseppe Dellamotta at investinglive.com.

Equilibrium of US economy would be impacted if Trump removes Fed headAnd that would be very serous for the world economyShe's just weighing in a little on Trump's policies and the recent drama surrounding them. Nothing that we don't already know with both situations continuing to cause a dent in dollar confidence and credibility in general. This article was written by Justin Low at investinglive.com.

France doesn't currently require IMF involvementFrench banking system is in a better place than when during the 2008 crisisI am looking very attentively at the French bond spreads situationI sort of remember someone saying a few years ago that it wasn't the ECB's job to "close the spreads". Life is funny sometimes, eh? French 30-year bond yields have bombed out of control amid political worries, rising to its highest since 2011 in the past week. That is seeing the spread between 30-year yields and 2-year yields climb up to 240 bps, the most since 2018. This article was written by Justin Low at investinglive.com.

As it's usually the case for Mondays, we have a pretty empty agenda today. There are just the final PMI readings and the Eurozone unemployment rate. None of these data will change anything for the central banks or the markets.We will also hear from a couple of ECB speakers but we can expect to hear the same old stuff. The central bank is not going to cut interest rates again unless we get some significant reason to do so. And there is absolutely none for now. As a reminder, it's a US holiday today, so the market will either consolidate or just keep going by inertia following last week's trends. The US data and especially the labour market data is going to be key this week. It might not deter the Fed from cutting this month, but it will certainly influence expectations further down the curve. This article was written by Giuseppe Dellamotta at investinglive.com.

German DAX futures +0.2%UK FTSE futures flatIt was a sluggish end to August trading for equities and I would say the overall mood remains more guarded to start the new week/month. S&P 500 futures are down 0.1% but Wall Street will not feature into play today amid a holiday in the US. That will leave European investors to their own devices in the session ahead. The big news over the weekend of course being Trump's tariffs quandary here. This article was written by Justin Low at investinglive.com.

For online brokers operating in one of the most competitive digital landscapes, growth isn’t just about reaching more traders - it’s about understanding which actions truly drive value. Yet, many still operate with outdated or generic performance indicators, measuring activity instead of outcomes.In a market defined by razor-thin margins, rising acquisition costs, and increasing user expectations, success now hinges on one thing: clarity. Clarity about what matters, what moves the needle, and how marketing and engagement strategies convert into revenue. Solitics is helping brokers get that clarity, through a product approach that transforms KPIs from passive metrics into drivers of ROI-focused decision-making.The Performance Blind Spot in Brokerage MarketingIt’s no secret that acquisition costs have risen sharply in recent years. But what’s less often discussed is how difficult it remains to connect these marketing investments to business outcomes. Campaigns generate leads, emails drive engagement, onboarding journeys convert - but which specific actions lead to funded accounts, higher trade volumes, or lasting retention?Most marketing teams still measure what they can easily track: click-throughs, form fills, app installs. But in high-value industries like trading, these metrics don’t go far enough. As Solitics’ VP Product notes:“For trading brands, not all goals are equal. Our KPI Management and value measurement capability closes the loop between user engagement and financial performance.” From Generic Metrics to Business-Critical KPIsSolitics provides trading brands with the ability to define, track, and optimise KPIs that directly align with strategic goals. Whether it's conversions from demo to real accounts, trade volume growth per asset, or first-time deposits and activations, every KPI can be tailored to reflect what truly matters to the business.These KPIs aren’t abstract. They’re embedded directly into customer journeys, allowing brokers to track campaign success as it unfolds - and adapt accordingly.For example, a broker might define a KPI that tracks how many users move from initial registration to first trade within seven days. Solitics not only captures that flow in real time, but allows marketing teams to attribute actual monetary value to each conversion - closing the loop between campaign and revenue impact.Monetising Marketing: Measuring Financial Impact in Real TimeWhere most platforms stop at tracking clicks or opens, Solitics goes further. Its value measurement capability lets brokers assign and calculate monetary value per goal - showing the direct financial outcome of each user action.This transforms reporting from a list of numbers into a strategic dashboard of value-driven insights. A campaign that drives fewer conversions, but higher-deposit users, can be identified and scaled. A journey with strong engagement but low ROI can be refined or re-targeted. It’s performance measurement grounded in commercial reality - not just marketing activity.Smart Segmentation, Smarter StrategyKPI measurement is most powerful when it’s specific. Solitics enables brokers to go granular — building KPIs around particular instruments, user profiles, or engagement types.A broker looking to boost GBP/EUR trading volume ahead of a macroeconomic event can define a volume-growth KPI for that segment, track it, and watch how it translates into revenue. Similarly, marketers running education-led funnels can measure the impact of different content paths, and shift budgets accordingly.In doing so, Solitics empowers brands to act faster, optimise smarter, and scale more efficiently - all without relying on gut feeling or retroactive analysis.Product-Led Growth, Backed by Real-Time DataWhat sets Solitics apart is its ability to integrate performance measurement into the same environment brokers use to build and execute customer journeys. Marketers aren’t left toggling between tools or waiting for data to catch up. KPIs are defined, triggered, and analysed in the same ecosystem.This unified view gives trading brands a powerful advantage: the ability to move from campaign design to financial insight in one continuous loop. Campaigns can be configured to adapt dynamically to user behaviour, outcomes, or KPI performance - including conditional logic and multi-path testing, and then optimised based on what actually drives revenue.About SoliticsSolitics is a real-time customer engagement platform, enabling online brokers, banks and fintech brands to deliver personalised, data-driven experiences at scale. Its KPI Management and value measurement capabilities help organisations align marketing with business outcomes — defining, tracking, and optimising success based on what matters most. This article was written by IL Contributors at investinglive.com.

Prior +0.6%; revised to +0.5%The average price of dwellings in the UK eases slightly in August to £271,079. Compared to the same month last year, house prices also softened from 2.8% in July to 2.1% in August. Nationwide notes that "the relatively subdued pace of house price growth is perhaps understandable, given that affordability remains stretched relative to long-term norms". Adding that lower borrowing costs soon enough will likely help to keep demand supported "especially since household balance sheets are strong and labour market conditions are expected to remain solid". This article was written by Justin Low at investinglive.com.

Amid a holiday in the US and Canada in the day ahead, there aren't any major expiries to take note of for the day.There are modest-sized ones for EUR/USD and GBP/USD as noted above but nothing that should really be impactful for traders to work with.For more information on how to use this data, you may refer to this post here.Head on over to investingLive (formerly ForexLive) to get in on the know! This article was written by Justin Low at investinglive.com.

US futures are open for now with the mood music looking fairly tentative. However, Wall Street will be out of commission today and the Treasuries market is also not trading. So, that will leave European traders and investors to their own devices to play out the start of the new week.Major currencies are not doing all too much, with the dollar a touch on the softer side. Meanwhile, gold is setting its sights on a potential upside break with eyes on the $3,500 mark. Trump's tariffs mess is set to give market players something to try and digest for now at least.Coming up later, we will be getting a host of economic data releases in Europe to move things along. The final manufacturing PMI prints for August are due alongside the latest UK credit data and Eurozone unemployment rate. None of which should be market moving releases though. This article was written by Justin Low at investinglive.com.

Gold had a solid end to August last week, posting over 2% gains. That comes after a test of its 100-day moving average, with buyers continuing to hold the line and the upside momentum since last year. But as we get into the new week, there is renewed vigour to the gold buying after months of consolidation.The push higher today sees gold come up to its highest since the end of April, where the upside move stalled after clipping the $3,500 mark.Amid the US tariffs quagmire we're seeing over the weekend, it continues to underscore why gold is such a hot commodity in times like these. The constant bout of uncertainty surrounding US policies and the incoherent manner of how things are delivered hasn't helped with dollar sentiment whatsoever this year.And with Trump also threatening the Fed's independence, the preference to stick with the dollar and US assets generally just isn't there. In turn, that is helping to see the likes of gold shine even brighter amid other factors such as central bank buying and with it being a solid hedge against potential stagflation risks.Looking at the chart above, the April high at $3,500 is the big one to watch now. A break there will open up the floodgates for further gains after having trended more sideways in the past three months or so. This article was written by Justin Low at investinglive.com.

Nasdaq Futures Technical Analysis and Price Prediction for Today – September 1, 2025The US stock market is closed today, September 1, 2025, in observance of the Labor Day holiday. Both the New York Stock Exchange (NYSE) and the Nasdaq Stock Market are shut, but futures trading remains open — and Nasdaq futures are already flashing clear bearish tones to start the new month.At investingLive.com, our orderFlow Intel review of Nasdaq futures shows how momentum shifted sharply at the end of August, with sellers taking control and pushing cumulative delta deep into negative territory. This is a key signal for traders who want to understand where the market may be heading when US equity markets reopen on Tuesday.Key Technical Levels for Nasdaq Futures23,552 – Value Area High (today)23,530 – Point of Control (today)23,516–23,512 – Friday’s Value Area High and VWAP cluster23,479 – Value Area Low (today, already breached)23,460 – Friday’s Point of Control (tested level, secondary resistance)23,417 – Friday’s Value Area Low (naked level, now tested)23,338 – Second lower standard deviation of Friday’s VWAPorderFlow Intel: What the Data ShowsBullish Start Fades: On Aug 31, buyers briefly pushed cumulative delta to +262, with aggressive activity at the lows (Delta SL +287).The Turn (20:00–21:00): Delta flipped negative (–183, –2), cumulative delta collapsed to +77, showing sellers absorbing buyers.Bearish Momentum (22:00–23:00): Deltas plunged (–497, –543) and cumulative delta sank to –963. Volume rose into the decline, while Max Delta readings near zero showed buyers had vanished.September Open: Delta stayed negative (–406) and cumulative delta dropped further to –1369. A small positive Delta SL (+96) showed buyers trying to defend, but sellers kept control.Live Market Update for Nasdaq Futures (... yes, it is open today even if the stock market is closed)As anticipated, Nasdaq futures have already tested the 23,417 naked Value Area Low, reaching a session low of 23,406.75 before bouncing. At the time of writing, futures trade near 23,430, holding just above this key magnet level.This confirms the importance of 23,417 as a pivot zone. The next directional cue will come from whether sellers push through toward 23,338 or whether buyers can stage a more meaningful recovery above 23,460–23,479.Nasdaq Futures Price PredictionBearish Scenario (base case): If sellers press below 23,417 decisively, the path opens toward 23,338.Retracement Scenario: Any bounce should meet resistance in the 23,460–23,479 zone (Friday’s POC and today’s VAL cluster). A rejection here confirms bearish continuation.Bullish Scenario (lower probability): Only a recovery above 23,512–23,552 would neutralize the bearish tone and suggest a reversal attempt.Broader Risk-Off SignalsCrypto: Bitcoin futures (BTC1!) are trading at 107,840, down –935 points (–0.86%), leaning toward the lower end of today’s range. Crypto weakness adds to the risk-off environment.Tech Earnings Fallout:NVIDIA stock closed last week almost 4.5% lower compared to its Wednesday pre-earnings close, signaling disappointment despite strong expectations.Dell shares plunged more than 9% after Thursday’s results.Global Equities: Asian markets opened weaker after Friday’s tech selloff on Wall Street, with semiconductor and hardware shares leading declines.These cross-market signals confirm that the weakness in Nasdaq futures is part of a broader global risk-off move, not just an isolated futures event.Educational Takeaway for TradersMagnet Levels Work – The 23,417 naked Value Area Low, highlighted earlier, attracted price almost to the tick, underscoring its importance.Cumulative Delta as Confirmation – The sharp drop in cumulative delta from positive to –1369 gave advance warning that sellers had full control.Cross-Market Signals Matter – Futures weakness lining up with NVIDIA, Dell, crypto, and Asian equities paints a much clearer picture than looking at one market in isolation.Bottom LineEven though the US stock market is closed for Labor Day, Nasdaq futures provide a real-time barometer of sentiment — and the tone is decisively bearish. The test of 23,417 confirms this key level’s significance, with sellers still threatening to extend the move toward 23,338. Failed rallies into 23,460–23,479 remain shorting opportunities, while only a sustained push above 23,512–23,552 would soften the bearish bias.Combined with weakness in NVIDIA, Dell, Bitcoin, and Asian equities, the message is clear: markets are entering September in a risk-off mood.? This analysis is part of investingLive.com’s orderFlow Intel series. It is a decision support tool, not financial advice. Trade at your own risk. This article was written by Itai Levitan at investinglive.com.

So, the US Court of Appeals for the Federal Circuit decided in a 7-4 ruling over the weekend that Trump's reciprocal tariffs are illegal. The ruling stated that the use of the IEEPA was improper in pushing tariffs against the likes of Canada, Mexico, China, as well as the broader reciprocal tariffs. You can check out more details here.All of this is throwing markets in a bit of a limbo now to start the week. So, what happens next from here?As per his common tactic these days, Trump is going to fall back to lean on the US Supreme Court to try and overturn the ruling here. He has until 14 October to make that appeal and that's where real consequences might fall into place.A reminder for those unaware is that three of the nine members of the US Supreme Court were appointed by Trump back during his first term. And as a whole, six of the nine members had been appointed by Republican presidents.Does that mean that there will be bias in the decision? Perhaps but not a guarantee though.They have been fairly vocal about their position with how Trump is threatening Fed independence and they won't really stand for that. And typically, they are also rather critical towards presidents when any policy overreach is one that is made through bypassing Congress. In any case, we'll have to wait and see.For now, Trump's reciprocal tariffs will continue to be allowed to be in effect until the October deadline. But after which, they will no longer be enforceable pending the appeal with the US Supreme Court.As another reminder, these tariffs in dispute do not involve those on steel and aluminum - which are separate and will remain in place regardless.The question then is what will happen if Trump's tariffs are reaffirmed to be illegal?That's a massive can of worms to open after all the duties collected by the US in the past few months, not to mention any ongoing trade deals and framework agreements.Does the US have to pay back the billions of dollars it has obtained from imposing these tariffs in the last few months? What now of all the trade deals that are being negotiated in particular the ones with the China, EU, UK, Japan, and South Korea?On the flip side, if the US Supreme Court does side with Trump, that's going to be a separate concern for markets. It is basically a green light for Trump to keep reigning chaos and do whatever he wants without care for wanting to deal with Congress.Fun times, eh? This article was written by Justin Low at investinglive.com.

A U.S. court ruling against most of Trump’s tariffs and mixed China PMI data set the tone for Asian trade. Regional equities were uneven, with China and Hong Kong steadily higher, but Japan’s Nikkei sliding more than 2%, while FX stayed subdued.NZ eases rules, allows rich foreign investors to purchase or build $5m+ propertyJapanese equities are being sold hard, Nikkei down 2%Indonesia's central bank threatens forex interventionTSLA news: Tesla cut China Model 3 RWD price amid growing competition and softer EV demandChina S&P Global Manufacturing PMI (August) 50.5 (expected 49.5, prior 49.5)Australian private inflation survey -0.3% m/m (prior +0.9) & 2.8% y/y (prior 2.9%)Australian Q2 business inventories +0.1% q/q (expected +0.2%)Australian July Building permits -8.2% m/m (expected -4.8%, prior +11.9%)PBOC sets USD/ CNY reference rate for today at 7.1072 (vs. estimate at 7.1281)U.S. tariffs hit South Korea exports in August, growth slows sharply to 1.3%Japan August Manufacturing PMI: 49.7 (prior 49.9)Japan data - Capex for Q2 +7.6% y/y (expected +6.2%)A car crashed into the Russian consulate in Sydney this morning, local time.Asian markets will open soon to the big news that a US court ruled Trump's tariffs illegalICYMI - China data showed manufacturing sector contracted for a fifth straight monthAustralian S&P Global Manufacturing PMI (August) 53.0, its highest since September 2022New Zealand data - Building permits (July 2025) +5.4% m/m (prior -6.0%)US futures are open for trade - but not for long! (US holiday Monday)Switzerland says No on gold - Swiss gold industry warns against hasty US shiftFinancial Times: Europe ‘pretty precise’ plan to send troops to Ukraine, von der LeyenTrump denies all the weekend reports of his ill health, says he's "never felt better"ECB’s Rehn sees downside risks to inflation, urges flexibility, no preset rate pathChina property sales drop 17.6% in August, housing slump hits sixth straight monthRed Sea shipping security alert: vessel near Saudi port reports projectile incidentMonday open levels, indicative FX prices, September 1, 2025Newsquawk Week Ahead: US NFP, ISM PMIs, EZ Flash CPI, UK Retail Sales, and Canada JobsChina Manufacturing PMI (August 2025) 49.4 (expected 49.5) Services 50.3 (expected 50.3)US Federal Appeals court rules that most of Trump's tariffs are illegalWeekend headlines saw a U.S. Federal Appeals Court rule that most of Trump’s tariffs are illegal — a setback for his trade plans, though the case is expected to be appealed.From China, official August PMIs pointed to continued weakness: manufacturing contracted for a fifth month (49.4 vs. 49.3 prior), while non-manufacturing activity edged higher (50.3), lifting the composite to 50.5. The private Rating Dog (formerly Caixin)/S&P Global PMI, released Monday, painted a brighter picture, surprising at 50.5 (exp. 49.5; prior 49.5) and marking a return to expansion.In markets, USD/JPY held a circa 146.90–147.35 range, while other majors saw muted trade. Equities were mixed across the region, with China and Hong Kong showing resilience but Japan’s Nikkei 225 tumbling more than 2% at one stage. Asia-Pac stocks:Japan (Nikkei 225) -1.9%Hong Kong (Hang Seng) +2%Shanghai Composite +0.5%Australia (S&P/ASX 200) -0.7%Note - it's a US and Canadian holiday on Monday. This article was written by Eamonn Sheridan at investinglive.com.