02/09/2026
π₯ Dollar, Oil and Bond Yields Set Up a High-Impact BoC and US Data Session
π₯ Today's Market Review β Brought to you by Forex Desk News
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Wednesday, 02 September 2026
Here is what you need to know on Wednesday, 2 September:
BoC Interest Rate Decision, press conference, US ADP and Factory Orders take centre stage:
The U.S. Dollar Index is advancing for a second consecutive day to 99.71 as the rise in bond yields and oil prices brings inflation and rate-hike concerns back into focus. U.S. Stock Index Futures remain cautious after the 10-year Treasury yield reached 4.80%, its highest point since early 2025, amid a broad global bond-market sell-off.
πͺπΊπΊπΈ EUR/USD is down 0.10% at 1.15792.
πΊπΈπ―π΅ USD/JPY is down 0.30% at 159.655 as the yen finds support.
π¬π§πΊπΈ GBP/USD is lower by 0.04% at 1.3506.
π¦πΊπΊπΈ AUD/USD is up 0.02% at 0.71452.
π₯ Gold (XAU/USD) has fallen to a near two-week low of $4,325 as elevated Treasury yields and a firm dollar weigh on the metal.
π₯ Silver (XAG/USD) is extending its decline for a second straight day to $63.96 after the global bond sell-off lifted the U.S. 10-year yield to 4.80%.
π’ Oil: West Texas Intermediate (WTI) ~$90.82 | Brent Oil Exchange Rate (Brent Crude) ~$95.60. WTI is up 1% for a third consecutive day, marking its fifth gain in six sessions and reaching a fresh high since 24 July amid escalating U.S.βIran tensions.
π² Cryptos
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are trading modestly higher, although technical indicators point to early weakening momentum after Augustβs massive gains. BTC rises to $77,553, ETH holds at $2,419 after rejection near $2,500, and XRP trades around $1.34.
π What to look out for today
Canada takes centre stage with the BoC Interest Rate Decision, Rate Statement and Press Conference. In the U.S., ADP Nonfarm Employment Change, Factory Orders, Crude Oil Inventories and the Fedβs Beige Book are also key releases for traders.
βοΈ What to Expect
π¨π¦ BoC Rate Decision F: 2.25% vs P: 2.25%: Hold priced β statement and press-conference tone drive CAD.
π¨π¦ BoC Press Conference: Hawkish lean supports CAD; dovish tone weighs.
πΊπΈ US ADP Nonfarm Employment F: 47K vs P: 44K: Marginal improvement β pre-NFP appetiser.
πΊπΈ US Factory Orders MoM F: 0.7% vs P: -0.3%: Rebound expected β USD-supportive.
πΊπΈ US Crude Oil Inventories F: -0.400M vs P: 0.095M: Small draw expected β mildly oil-supportive.
πΊπΈ US Beige Book: Regional economic colour that can shape the Fed rate narrative.
π Time in GMT
πΊπΈ ADP Nonfarm Employment Change (Aug) (12:15)
π¨π¦ BoC Interest Rate Decision (13:45)
π¨π¦ BoC Rate Statement (13:45)
πΊπΈ Factory Orders (MoM) (Jul) (14:00)
πΊπΈ Crude Oil Inventories (14:30)
πΊπΈ Cushing Crude Oil Inventories (14:30)
π¨π¦ BoC Press Conference (14:30)
πΊπΈ Beige Book (18:00)
π Stay alert. Stay strategic. Follow the markets.
Forex Desk News
β οΈ Disclaimer: Prices, market movements, and analysis reflect conditions at the time of writing and may change without notice.
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