[macro outlook] focus on the number of initial jobless claims in the United States this week and the non-manufacturing PMI of ISM in the United States in August.

Published: Sep 3, 2020 06:50

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SMM9 March 3: today's focus on data: the number of people applying for unemployment benefits in the week ending August 29 in the United States and the non-manufacturing PMI of ISM in the United States in August.

In terms of data, China's August xin service industry PMI, xin China service industry purchasing managers' index is usually released on the first working day of each month. If the PMI is above 50, it indicates that the service industry activity is in an overall expansion trend, while a lower than 50 indicates a contraction in the service industry. As Australia is closely related to the Chinese economy, the quality of the Chinese economy has a great impact on the Australian dollar.

The monthly rate of retail sales in the eurozone in July is the primary tool for measuring consumer spending, which in turn is the most important part of overall economic activity.

The number of layoffs and changes in the number of layoffs in Challenger companies in the United States in August reflect the quality of corporate employment. If the number of layoffs increases, it shows that the job market is deteriorating, which is bad for the US dollar. The US Department of Labor's official non-farm payrolls report was released one day before it was released, but its impact on the market was less than that of the ADP payrolls report released two days ahead of the non-farm payrolls data.

The trade account of the United States in July (US $100 million), with a trade surplus, indicates a net inflow of funds and an appreciation of the US dollar; a trade deficit indicates a net outflow of funds and a depreciation of the US dollar.

The number of people applying for unemployment benefits in the week up to August 29 in the United States, as this data is released every week and is the focus of the investment market, the substantial increase in the number of unemployed people will increase the financial pressure on the US government. it is also a test for the US economy, which is suffering from "double red sickness", which is bad for the US dollar.

ISM non-manufacturing PMI, in the United States in August is a leading indicator of economic health. Businesses can respond quickly to market conditions, and purchasing managers' views on the economic conditions of their companies are perhaps the most timely and relevant.

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