US ISM Manufacturing PMI Fell Below Expectations in August: 54,6
The ISM Manufacturing PMI came in at 54,6 in August, below both July's level of 55,6 and the market expectation of 55,2. Although the data showed that expansion in the manufacturing sector extended into its eighth month, it pointed to a loss of momentum in the sector as the New Orders Index fell from 56,7 to 53,7, and the Employment Index dropped to 51,2, significantly below the expected 53,0.
Gold Falls to Lowest Level Since August 19
XAU/USD fell to the $4,360-4,375 band with a 1.9% loss in value; this level represents the lowest price seen since August 19. Rising US bond yields made non-yielding bullion gold less attractive, while gold's safe-haven demand was not enough to offset this pressure despite geopolitical tensions in the Strait of Hormuz.
US 10-Year Treasury Yield Hits Highest Level Since January 2025
The US 10-year Treasury yield rose to the 4.78-4.80% band, reaching its highest level since January 2025, fueled by inflation concerns stoked by tensions in the Middle East and strengthening expectations of a September rate hike. The 30-year Treasury yield also rose to 5.28%, approaching levels prior to Treasury Secretary Bessent's decision last month to expand bond buybacks.
Ekonomik Takvim | 31 August - 5 September 2026
🇺🇸 Friday, September 4
US Non-Farm Payrolls (NFP)
The last major labor market data before the Fed's September interest rate decision; following the weak ISM manufacturing data, a surprise result could reprice the interest rate hike expectation currently standing at 66%.
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