The global foreign exchange (FX) markets witnessed a day of anticipation and action on the 1st of September 2023, as traders closely monitored the currencies GBP, EUR, and USD. Key economic data releases and global events played a pivotal role in shaping market trends:

GBP (British Pound): The British Pound (GBP) had a mixed day on the 1st of September as traders paid close attention to economic indicators and market sentiment. Early today, the UK Manufacturing PMI figures will be released, providing insights into the health of the manufacturing sector. These figures had a significant impact on the GBP’s movements.

EUR (Euro): The Euro (EUR) exhibited mixed performance on the 1st of September, with markets closely monitoring a range of economic data releases. The Eurozone Unemployment Rate figures were released yesterday, offering insights into the employment landscape and impacting the EUR’s sentiment.

Attention then will turn to the upcoming release of Eurozone manufacturing PMI figures. These data were eagerly awaited as they could provide crucial information about inflation trends, potentially shaping the EUR’s movements.

USD (United States Dollar): The United States Dollar (USD) displayed varied performance throughout the day on the 1st of September. The big release of the day was the release of US Non-Farm Payrolls figures, which provide essential insights into employment trends and significantly influence the USD’s initial sentiment.

As the day progressed, markets looked ahead to the release of US Manufacturing PMI figures. These data were anticipated to provide insights into the health of the manufacturing sector and had the potential to influence the USD’s movements.

Key Data Releases:

• US Manufacturing PMI Data (USD): Market attention turned to the release of US Manufacturing PMI figures, offering insights into the health of the manufacturing sector and the potential to influence the USD’s movements.
• US Non-Farm Payrolls (USD): Later today, the market will eagerly await the release of US Non-Farm Payrolls figures, which provide critical insights into employment trends and have the potential to significantly impact the USD’s direction.

In conclusion, the FX market experienced a day of significant movements on the 1st of September 2023. The GBP’s performance was influenced by Manufacturing PMI figures and the awaited Construction PMI data, the EUR showcased mixed performance following Eurozone Unemployment Rate figures and in anticipation of Eurozone CPI data, and the USD displayed varied performance whilst looking forward to Manufacturing PMI data and the forthcoming Non-Farm Payrolls release.