Financial markets watch U.S. macro trends and French political crisis
After the U.S. labor market data, investors are beginning to look more closely at the U.S. macroeconomic situation, trying to capture signals that might indicate more than just a slowdown. In Europe, the focus is on the French political situation. Equities are fluctuating around the fast moving average but maintaining the upward trend, while bonds are accelerating on expectations of Fed rate cuts.
Our intermarket dashboards, despite the many jolts of recent weeks, show a situation that is essentially similar to the one we left before the summer break. Equities are oscillating around the fast moving average but remain within the upward trend. Bonds are regaining momentum on expectations of at least two rate cuts by the Fed in the upcoming meetings before year-end. Commodities remain in a wide lateral channel, driven more by precious metals than by other variables. Overall, risk-on still seems predominant, although slightly less intense than a few weeks ago.
On the macroeconomic front, the week opens with Chinese export data, German industrial production, and U.S. inflation expectations. Attention is also on France and the evolution of the ongoing political crisis.
Our forward-looking analyses point to an uncertain day for equities, with few clearly positive signals. For bonds, the outlook is negative for U.S. yields but continues to be positive for corporate bond prices. As for commodities, precious metals are still performing well, with signs of overexposure in gold. Expected volatility remains broadly stable.
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NOTES AND WARNINGS
Data compiled by kbmeter.com. Analysis date: 8 September 2025 - 7:29 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.
