Group 1 - The U.S. dollar has fallen to a four-year low against the euro, driven by expectations of a Federal Reserve interest rate cut this week [1][2] - The euro increased by 0.9% to $1.1867, marking its highest level since September 2021, while the U.S. dollar index dropped 0.7% to 96.636, the lowest since July 1 [1][2] - Investors are anticipating a 25-basis-point rate cut by the Fed, influenced by softening labor market data [2][3] Group 2 - The dollar is under pressure as investors expect a dovish message from the Fed, with a focus on supporting labor markets [3][4] - Fed Chair Jerome Powell is scheduled to hold a press conference following the release of the Fed's policy statement [3] - Despite a rise in U.S. retail sales in August, concerns about economic growth persist due to labor market weakness and rising goods prices from tariffs [5][6] Group 3 - The Bank of England may ease concerns about inflation as the U.K. jobs market shows signs of slowing, with wage growth decreasing to 4.7% [6][7] - The number of workers on payrolls in the U.K. has fallen for seven consecutive months, indicating potential economic challenges [7]

Core Viewpoint - Gold is on track for a fourth consecutive weekly gain due to expectations that the Federal Reserve will lower US interest rates, with prices supported by inflows into bullion-backed exchange-traded funds [1] Group 1: Market Performance - Gold prices increased by approximately 1.7% this week, following a record high set during Tuesday's session [1] - The latest consumer sentiment data revealed a decline in September to the lowest level since May, while long-term inflation expectations have risen for the second consecutive month [1] Group 2: Expert Insights - Axel Merk, President and Chief Investment Officer of Merk Investments, discussed the long-term outlook for gold on Bloomberg Businessweek Daily [1]

Economic Overview - The U.S. economy experienced inflation acceleration in August, with a 2.9% annual headline inflation rate and a 3.1% core inflation rate, which excludes food and energy prices [3][6] - The Consumer Price Index (CPI) rose 0.4% for the month, aligning with market expectations [6] Federal Reserve Implications - Economists believe the inflation report strengthens the case for a Federal Reserve interest rate cut in September, despite some noting that headline inflation was higher than expected [4][5] - The inflation figures are still above the Fed's 2% target, but the data suggests a gradual approach to any potential rate cuts rather than an aggressive pivot [5] Market Sentiment - There has been a notable shift in market sentiment regarding Federal Reserve rate cuts, moving from uncertainty about whether a cut will occur to expectations of how many cuts may follow [6]

Core Viewpoint - The Senate Banking Committee is preparing to vote on the nomination of Stephen Miran as Federal Reserve governor, following President Trump's nomination amid ongoing legal challenges regarding Fed governance [1][2][3]. Group 1: Nomination and Confirmation Process - Stephen Miran has been nominated by President Trump to replace Adriana Kugler, who resigned unexpectedly in August [3]. - If confirmed, Miran will serve until January 31, marking the end of Kugler's term [3]. - Miran has indicated he will take an unpaid leave from the Council of Economic Advisors if confirmed, which has drawn criticism from Senate Democrats [4]. Group 2: Context of the Nomination - The vote on Miran's nomination follows a federal judge's temporary block on Trump's attempt to fire another Fed governor, Lisa Cook, amid her legal challenge [2]. - The timing of the vote is significant as it precedes a scheduled Fed board meeting to discuss potential interest rate cuts, a demand made by Trump [2].

Company Insights - Orsted's shares are expected to open lower after the company revised its full-year earnings guidance to between 24 billion Danish kroner ($3.75 billion) and 27 billion Danish kroner, down from the previous range of 25-28 billion Danish kroner, due to lower-than-normal offshore wind speeds across its portfolio [4] - The company is preparing for a shareholder meeting to seek approval for the next stage in its $9.4 billion rights issue, as it faces political obstructions regarding its U.S. projects [5] - Orsted has announced a lawsuit against the Trump administration in an effort to restart construction on a blocked offshore wind farm in New England [5] Industry Context - European stock markets are anticipated to open higher as investors await a key U.S. jobs report that may influence expectations for a Federal Reserve interest rate cut [1] - The sentiment improved following U.S. payrolls data that increased market bets on a Fed rate cut in September, with a 99% probability indicated by CME's FedWatch tool [2] - Economists forecast the addition of 75,000 jobs in the U.S. for the previous month, which could provide insights into the labor market's softness [3]