Forex Today: Back to square one
|Here is what you need to know on Friday, August 21:
The dollar retained its bullish tone at the beginning of the day, but gave up in the final session, hurt by worse-than-expected US data. The country reported the Philadelphia Fed Manufacturing Survey, which resulted in 17.2 in August, missing expectations of 21. Initial Jobless Claims in the week ended August 14 surged to 1106K worse than the 925K expected.
Brexit talks remain stalemate, with just seven weeks left to reach a post-Brexit deal. On Wednesday, talks froze after the EU rejected a UK request to grant British truckers wide-ranging access to Europe. The latest news indicated that EU negotiators also denied a UK query for a migration pact that would allow the government to return asylum seekers to other EU countries.
Gold prices remained in consolidation mode for most of the day, adding some ground at the end of the say to settle just above $1,950 a troy ounce.
Crude oil prices seesawed between gains and losses, ending the day little changed. WTI trades around $42.70.
Cryptocurrencies recovered some ground but held in the lower end of their weekly range.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.