Market Brief, North America

The dollar is blowing into September with a full head of steam as traders brace for what could prove to be this year’s most pivotal economic data release: Friday’s August non-farm payrolls report. Two-year Treasury yields are edging higher, stock market futures are softening, and the greenback is climbing against most of its major counterparts, with rallies in the euro and pound showing clear signs of exhaustion. Today’s update from the Institute for Supply Management could move markets. The Institute’s manufacturing purchasing manager index is expected to show the factory sector remaining firmly in contractionary territory, with new orders continuing...

The almighty greenback is making a lacklustre attempt at climbing off the mat after suffering the worst selloff in a year during Friday’s session, with rising geopolitical tensions doing little to reverse its losses. On a trade-weighted basis, the dollar is up incrementally this morning, but has fallen roughly 3 percent this month, pacing declines in Treasury yields even after Israeli airstrikes on Hezbollah targets in Lebanon generated a mild safe haven bid over the weekend. Oil prices are modestly higher, equity futures are seeing cautious inflows, and the pound, euro, and yen are turning in mixed performances amid holiday-thinned...