What you need to take care of on Thursday, September 1:

The American dollar ended August with substantial gains across the FX board. On Wednesday, it edged higher against most major rivals, although the EUR/USD pair advanced for a third consecutive day and settled around 1.0050.

The EU Harmonised Index of Consumer Prices (HICP) rose by 9.1% YoY in August, up from 8.9% in July, while the core reading for the same period jumped to 4.3% from 4% in the previous month. Both figures were above the market's expectations and at record highs, somehow justifying the hawkish shift from European policymakers.

The USD suffered a temporal knee-jerk early in the US session as the ADP report disappointed, showing the private sector added just 132K new jobs in August. However, the currency recovered ahead of the close as US Treasury yields surged to fresh weekly highs while US indexes closed in the red for a second consecutive day.

GBP/USD struggles to retain the 1.1600 threshold, while AUD/USD trades at weekly lows in the 0.6840 price zone. The USD/CAD pair soared and now hovers around 1.3130.

Safe-haven currencies eased modestly against their American rival, with USD/CHF now at 0.9780 and USD/JPY at 138.90.

Crude oil prices edged lower after the US Defence Department Spokesman announced that G7 finance ministers would discuss Russia's oil price cap on Friday. WTI settled at $89.10 a barrel. Spot gold heads into the Asian session, trading around $1,710 a troy ounce, its lowest in over a month.

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