Federal Reserve Governor Waller sends dovish signals; here's how tonight's nonfarm payrolls report will go...

· US PMI data showed a rebound in economic growth in the third quarter. The S&P Global Services PMI rose to 56.5 in August from 54.6, lower than the initial reading of 56.8, but still recorded a significant increase, reaching its highest level since December 2024. This news is bullish for the US dollar and US stocks, but bearish for gold. · Federal Reserve Governor Waller stated that if August inflation data is higher than expected, a rate hike will be considered; if inflation improves, the Fed will likely maintain current interest rates. This news is positive for the US dollar. · US diesel prices rose to their highest level since mid-2022, nearing record highs. This news is bullish for crude oil.

TOPONE Markets Analyst

2026-09-04 09:36:47