It’s not a great start for anything in September

We’re barely into the start of North American trading for the month but so far September is living up to the billing of being a miserable month.

S&P 500 futures are down 0.5% and Nasdaq futures are a tad worse. The oil market is worried about a resumption of Libyan production and poor demand, with crude down $1.15 to $72.40. Gold has been a great performer this year but is giving some back today, down $5. Bitcoin remains a tad higher on the day but is one of the worst performers in the past month.

Bonds have been a great performer recently but September is always a big month for supply and ten-year yields have risen for five straight days coming into today.

In FX, the dollar is re-establishing itself across the board with the antipodeans and yen particularly soft. The focus today is on the industrial side of the US economy with the ISM manufacturing report, construction spending and the final S&P Global manufacturing PMI. For more, see the economic calendar.

This article was written by Adam Button at www.forexlive.com.