Investing.com – Here are the top five things you need to know on financial markets on Friday, August 30:
China's foreign ministry said that the US-China trade standoff remained in a daily news briefing.
Beijing, Washington, DC.
The apparent cooling of tensions in both Beijing and Washington has nearly reached 3% this week, consistent with a pattern of constant shifts in
Trading in New York on Friday ahead of Monday's Labor Day holiday.
2. Bond yield pull back from record lows, yield curve inversion intact
Yields on U.S.
But the "dreaded" yield curve inversion, which some consider a leading indicator of recession, remains intact with the yield on the hovering about two base points below that of the.
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3. Consumer health and manufacturing activity in focus
The update on the health of the U.S. Consumer and the pace of consumer prices due at 8:30 AM ET (12:30 GMT) will help traders assess whether the slowdown in the global economy is beginning to seep into the US. It will be required in September. Markets have a fully priced in.
The Fed's preferred inflation measure, which excludes volatile food and energy costs by 0.3% in July from June, and by 1.6% from a year earlier.
In other data, the Chicago will provide a glance at the state of manufacturing activity in the Midwest at 9:45 AM ET (13:45 GMT), while, 15 minutes Later, the University of Michigan will release its final reading on in August.
but what still remains on track for its biggest weekly gain since mid-July as a standoff in the US dispute, OPEC-led supply cuts, ongoing Middle East tension and a plunge in inventories buoyed prices.
With on track for weekly gains of 3.8%, markets are bracing for the. Hurricane as it makes landfall on Labor Day, raising concerns that offshore crude producers may shutter output.
5. ECB under pressure from hawks, despite low inflation
Sabine Lautenschlaeger, an ECB executive board member, insisted it's "much too On Thursday, fellow hawk Klaas Knot had said that the market expectations for easing next month were "overdone."
Jens Weidmann had said last weekend
– Reuters contributed to this report.