The dollar index rebounded to the 98 level, mainly due to the euro under pressure to the downside, below support at around 97.60, above pressure at 98.50.
Weak economic data from the euro zone showed that the bloc's gross domestic product barely grew in the second quarter, with economies across the bloc losing momentum, with Germany, its largest economy, shrinking amid slowing global growth. Trade conflicts and uncertainty over its exit from the bloc. The upper pressure is around 1.1180 and the lower support is at the line of 1.1100.
The yen's appeal to investors is huge. Adding to the risk aversion was the fact that U.S. yields on two-year and 10-year Treasury notes fell upside down for the first time since 2007, often interpreted as a sign of impending recession.
USD/JPY fell again to below 106. The below short-term support is at 105.50, another below support is at 105.00. The above short-term pressure is at 106.50,and above pressure is at 107.00.
Risk aversion has returned, with the US Treasury yield curve inverted for the first time since the us subprime crisis intensified in 2007, suggesting the world's largest economy could slip into recession. A sharp drop in U.S. stocks also boosted safe-haven demand for gold, with the Dow Jones industrial average ending down more than 800 points on Wednesday.
The gold price oscillates upward again to 1520, the previous high is in 1535 line. The below support is in 1500, and then below support is in 1490.
A second week of unexpected increases in U.S. crude inventories added to the pressure on oil markets. Data from the U.S. energy information administration on Wednesday showed U.S. crude oil inventories unexpectedly rose for a second straight week last week as refinery output fell and refined oil inventories unexpectedly fell, with gasoline demand hitting a record high. After the release of inventory data, oil market selling pressure increased.
U.S. crude oil tumbled nearly 4 percent to the 54 line and now trades around 55, with the upper pressure around 56. The lower short-term support is at 54 and the lower support is at 52.
PS: Today Focus
16:30 monthly retail sales rate after quarterly adjustment in July (%)
20:30 Initial jobless claims for the week ended August 10 (10,000)
20:30 Monthly retail sales rate in July (%)
21:15 monthly rate of U.S. industrial output in July (%)
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