Asia morning markets – Sep 3

1. Market Summary

European stocks and U.S. futures slip

Payrolls data could decide size of Fed rate cut

Dollar dips and euro rises

September traditionally a weak month

Equities

Share markets fell slightly on Monday as investors braced for a data-packed week culminating in the NFP that could decide whether a rate cut this month will be regular or super-sized.

Chinese CSI 300 opens new tab lost 1.7%, led by losses in real estate after a survey showed home prices growth had slowed.

New World Development (0017.HK), a major Hong Kong property developer, dived 14% after it estimated a net loss.

Forex

DXY at 101.69 in early trading, just below two-week high of 101.79 it touched on Monday. The index fell 2.2% in August on expectations of U.S. rate cuts.

Sterling eased to $1.31425 in early trading. The Australian dollar was 0.14% lower at $0.6782, while the New Zealand dollar fell 0.18% to $0.6223.

The euro was last at $1.1060, not far from the two week low of $1.1042 it touched in the previous session, while the yen fetched 147.10 per dollar in early trading, close to the two-week low of 147.16 hit on Monday

Commodities

Oil prices were little changed after falling in recent days. Brent crude held steady at $76.91 a barrel, down more than 5% from a week earlier.

Source: LSEG, opens new tab – data delayed by at least 15 minutes