After reaching its highest level in three weeks near 100.40 on Thursday, the US Dollar (USD) Index corrects lower to start the European session on Thursday. The US Bureau of Labor Statistics will publish April employment data, which will feature wage inflation, Unemployment Rate and Nonfarm Payrolls figures. Earlier in the day, the European economic calendar will offer preliminary Harmonized Index of Consumer Prices (HICP) data, the European Central Bank's (ECB) preferred gauge of inflation, for April.
Despite mixed macroeconomic data releases from the US, the USD outperformed its rivals on Thursday on growing optimism about a de-escalation of the US' conflict with its trading partners. The US Department of Labor reported that weekly Initial Jobless Claims climbed to 241,000 from 223,000 in the previous week. Other data showed that the ISM Manufacturing Purchasing Managers' Index (PMI) edged lower to 48.7 in April from 49 in March but came in above the market expectation of 48. Meanwhile, Bloomberg reported that China Commerce Ministry said that the US has taken the initiative to convey to China that the US is hoping to talk on trade.
EUR/USD closed in negative territory for the third consecutive day on Thursday before stabilizing above 1.1300 in the European morning on Friday. The annual HICP inflation in the Eurozone is forecast to soften to 2.1% from 2.2% in March.
Gold lost more than 1% on Thursday and came within a touching distance of $3,200. XAU/USD stages a rebound and rises about 0.5% on the day at around $3,250.
GBP/USD lost 0.4% on Thursday and dropped to 1.3260. The pair holds its ground in the European morning and trades near 1.3300.
USD/JPY gained more than 1.5% on Thursday and extended its weekly rally to a fresh multi-week high near 146.00 in the Asian session on Friday. The pair edges lower toward 145.00 amid renewed USD weakness in the European trading hours. Japanese Prime Minister (PM) Shigeru Ishiba said on Friday that there is no change at all to their stance of requesting the US to cancel tariffs.
Source; Fxstreet
The U.S. dollar firmed across the board on Monday, a day before the release of a U.S. inflation report that could help determine whether the Federal Reserve lowers borrowing costs next month. The dol...
The US dollar rose against its major trading partners early Monday as markets look ahead to inflation and retail sales data for July this week. There are no US data scheduled for release Monday, but ...
The U.S. dollar was little changed on Monday before Tuesday's deadline for Washington and Beijing to strike a tariff deal and a key U.S. inflation report that could help determine whether the Federal ...
The US Dollar Index (DXY) weakened in early trading on Monday (August 11th), retracing earlier gains and trading around the 98.00 level during the Asian session. This weakening reflects increased mark...
The dollar firmed slightly on Friday but was heading for a weekly fall as U.S. President Donald Trump's temporary choice for a fill-in Federal Reserve governor stoked expectations for a dovish pick to...
Gold strengthened in early Asian trading amid a possible technical recovery after its sharpest drop in three months on Monday. The rise came after a post on US President Trump's Truth Social account clarified that the precious metal would not be...
On April 6, the Sunday after Donald Trump announced the "Liberation Day" tariffs, Treasury Secretary Scott Bessent joined the president on his flight back to Washington from Mar-a-Lago. Bessent wanted to discuss damage control. At the time, photos...
Oil was little changed after President Donald Trump extended a pause of sky-high tariffs on China, stabilizing trade ties between the world's two biggest economies. West Texas Intermediate traded near $64 a barrel, near the lowest...
U.S. President Donald Trump on Monday said he hopes China will "quickly quadruple" its soybean orders from American farmers, framing the move as a...
From McDonald's and Coca-Cola to Amazon and Apple, U.S.-based multinationals are facing calls for a boycott in India as business executives and...
Whatever happens at September's Federal Reserve meeting will pale in comparison to a wholesale rethinking of the U.S. central bank's design, a...
About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the...