Investors take caution ahead of payroll data on Friday

Major indices finished marginally lower on Wall Street overnight. While shares in Asia reversed recent gains on the back of market uncertainty. U.S. Consumer confidence figures surprised markets after falling to a six-month low, coming in at 113.8 missing the 122.9 forecast and 125.1 from last month.

Slowing global growth in addition to lower figures has started to spook markets. Although global indices remain near record peaks there’s still uncertainty to it. Losses in oil and gas, tech, and basic materials pulled shares lower. Resulting in the Dow, S&P, and the Nasdaq closing lower.

In the FX markets, the USD rose after touching a 3 week low overnight, ahead of the U.S. Non-Farm Payrolls. The dollar index touched levels of 92.39. While the Sterling lost 0.11% after a few toned-down economic figures such as M4 money supply, mortgage approvals, and monthly net lending to individuals.

USDX Daily Frame Chart

The USD/CNY also rose despite the Caixin manufacturing PMI disappointed. Coming below the 50 mark growth indicator.

And in Commodities; Gold dipped as investors continued to stay cautious with the yellow metal especially ahead of the NFP that usually increases its volatility. Gold prices steadied at $1,817. Oil prices all fell overnight to close the month of August in the red. as it posts its first monthly loss since March however prices then recovered early in the day after API showed inventories falling more than expected and ahead of OPEC+ meeting. Brent gained 0.7% to $72.12 while WTI rose to $69.