investingLive Americas FX news wrap: Gold continues to rise above $3500 ...Middle East

US August ISM manufacturing 48.7 vs 49.0 expectedUS July construction spending -0.1% vs -0.1% expectedUS August S&P Global final manufacturing PMI 53.0 vs 53.3 prelimAugust Canada S&P Global manufacturing PMI 48.3 vs 46.1 priorTrump: We're going to the Supreme Court tomorrow on tariff decisionTrump confirms that Space Command will move to AlabamaTrump: China, India and Brazil kill us with tariffsECB's Muller: It makes sense to hold rates and watch the economyAtlanta Fed GDPNow Q3 tracker 3.0% vs 3.5% priorGoldman Sachs bumps US economic growth tracker to 1.7% for Q3New Zealand GDT price index -4.3%

Gold up $62 to $3538US 10-year yields up 5.6 bps to 4.97%S&P 500 down 48 points to 6412 WTI crude oil up $1.63 to $65.64USD leads, JPY lags

It was an ugly risk-off day to mark the start of the US trading week (following Monday's holiday) but it wasn't as bad as it could be. Futures cracked further early in US trade and were down more than 1.3% at the lows. There was some moderate recover from there that came in spurts. Ultimately the S&P 500 finished 45 points above the lows but still down by 45 points.

The big talk was in gold, which touched $3500 for the first time in Asia before retracing. It fell back to $3475 early in US trading before exploding higher to $3538 and closing at the highs. That helps to confirm a breakout to the consolidation that kicked off in April.

In terms of equity market movers, the losers vastly outnumbered the winners with financials and transports as laggards. Nvidia was down 1.8% while Tesla fell 1.4%.

This article was written by Adam Button at investinglive.com.

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