Daily Market Report of Currency, Equity, Commodity and Bonds
Friday, 04 September 2026
Headlines
- Gold holds ground with US payrolls data on radar
- Asian shares climb ahead of US jobs data, Fed’s Waller soothes bonds
- Rupee’s inflow-linked, RBI-backed optimism faces oil test
- Indian Markets Set for Positive Opening as Global Cues Turn Supportive; GIFT Nifty Near 24,023
- Yen headed for strongest week in a month, dollar flat ahead of payroll data
- Oil heads for sharp weekly gains on escalating U.S.-Iran tensions
Currency
Indian Rupee
The Indian rupee’s rally, propelled by the central bank’s dollar sales and bolstered by hefty inflows from one-off measures, will face a familiar foe on Friday in rising oil prices.
The rupee is expected to open in the 94.55 to 94.60 range, per traders, having settled at 94.4850 to the dollar on Thursday, when the currency rallied 0.5%, taking its rally for the week to a percentage point.
Other Currencies
The Japanese yen clung to its gains against the U.S. dollar on Friday and was on track for its strongest week in more than a month, as traders ramped up bets on a Bank of Japan interest rate hike and broader currency markets awaited U.S. payrolls data.
The Japanese yen strengthened to as much as 155.25 per dollar in morning trade, just off the 155.20 high it hit last month after the July intervention. It later eased and was last flat at 155.71.
The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was flat at 99.01, leaving the euro flat at $1.1625 and sterling at $1.3527.
Indian Equity
Indian benchmark indices are likely to open on a positive note on September 4, tracking GIFT Nifty, which was trading higher at around 24,065.50 in early trade.
At close, the Sensex was down 504.16 points or 0.65 percent at 76,152.86, and the Nifty was down 37.45 points or 0.15 percent at 23,873.45.
Technical Analysis
Other Equity
Asian shares rose on Friday as investors embraced a global rally before crucial U.S. jobs data, while bonds found some much needed relief after a top Federal Reserve official cooled rate hike fears and dragged the dollar lower.
The dollar’s retreat turbocharged a rally in the yen, which has gained 2.6% this week to trade at 155.7 a dollar, putting it within striking distance of the 155.2 level reached after joint intervention by Tokyo and Washington in late July.
Commodity
Oil
Oil prices rose in Asian trading on Friday and were on track for sharp weekly gains as renewed military hostilities between the U.S. and Iran heightened concerns over prolonged disruptions to energy flows through the Strait of Hormuz.
Brent Oil Futures expiring in November edged up 0.2% to $95.67 per barrel, while West Texas Intermediate (WTI) crude futures also gained 0.3% to $91.58 per barrel.
Gold
Gold held steady on Friday and was poised for a small weekly gain, as attention turned to highly awaited U.S. payrolls data for clues on the Federal Reserve’s next interest rate decision.
Spot gold held its ground at $4,477.10 per ounce, as of 0211 GMT. prices jumped 2% on Thursday as traders scaled back expectations for a September rate hike after Fed Governor Christopher Waller said he would support leaving rates unchanged if data continued to show inflation pressures moderating.
Economic Calendar
| Friday, September 4, 2026 (9:15 AM) | ||||
| Time | Currency | Event | Previous | Consensus |
| 14:00 | UK | S&P Global Construction PMI (Aug) | 44.7 | 45.8 |
| 14:20 | UK | BoE Gov Bailey Speaks | ||
| 14:30 | EU | ECB’s Lane Speaks | ||
| 18:00 | US | Average Hourly Earnings (MoM) (Aug) | 0.10% | 0.30% |
| 18:00 | US | Nonfarm Payrolls (Aug) | -23K | 55K |
| 18:00 | US | Unemployment Rate (Aug) | 4.10% | 4.10% |
| 18:00 | US | Private Nonfarm Payrolls (Aug) | 30K | 50K |
| 18:00 | US | Average Hourly Earnings (YoY) (YoY) (Aug) | 3.20% | 3.00% |
| 18:00 | US | Participation Rate (Aug) | 61.40% | |
| 18:00 | US | U6 Unemployment Rate (Aug) | 7.90% | |
| 22:30 | US | U.S. Baker Hughes Oil Rig Count | 447 | |
| 22:30 | US | U.S. Baker Hughes Total Rig Count | 588 | |
Disclaimer: All information in this report is collected from various sites on the internet. Although we have taken all precautions for the correct representation of data, we do not take any responsibility for any errors and omissions. The technical analysis and views expressed are the author’s views. We are not responsible for any losses on account of following the same.
Sources
Prepared by
Aakanksha Singh
(Research Analyst)