Forex Today: Falling Treasury yields still signal caution, UK/US Retail Sales in focus

Here is what you need to know on Thursday, August 15th:

- The sentiment remains mixed amid signs of some calm on the US-China trade front. US President Trump offer Beijing help to resolve the Hong Kong problem. China fixed the Yuan higher for the second straight day.

- US equity futures saw relief recovery but Treasury yields extended the rout. 30-year T-yields dropped below 2% for the first time ever. Mounting recession fears loom.

- On Wednesday, the 10-year Treasury yields fell below the two-year yields, inverting the yield curve for the first time since 2007, fanning US recession fears.

- USD/JPY held steady below 106.00 amid risk-off action in the Asian equities. Gold consolidated its gains around $ 1520 while oil prices looked to stabilize.

- Upbeat Australian jobs growth boosted the AUD/USD’s bounce while EUR/USD recovered above the 1.1150 level.

- Brexit: UK's Labour vowed to bring down PM Johnson and lead temporary government. The UK Tory Tugendhat suggested that PM Johnson could execute surprise August Brexit.

- UK CPI accelerated to 2.1% y/y after Tuesday’s upbeat jobs report. The focus shifts to today's Retail Sales data, which is expected to show a sharp decrease.  

- Cryptocurrencies extended their losses. Bitcoin dropped below $ 10k mark.

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.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD: Choppy inside short-term triangle above 200-bar EMA

AUD/USD takes the bids to 0.6835 during Friday’s Asian session. The pair recently bounced off 200-bar Exponential Moving Average (EMA) and portrays a four-day-old symmetrical triangle. 


USD/JPY steady at 200-DMA ahead of critical US NFP data

Steady below the 200-day moving average, Yen fell from 108.97 to 108.66 overnight as positive trade deal headlines flowed through the news wires and helped US stocks eke out further gains. Risk appetite was solid into the close on Wall Street overnight.


US Non-Farm Payrolls November Preview: Labor market continues to defy concerns

Non-farm payrolls are predicted to rise 180,000 in Nov following Oct’s 128,000 increase. The unemployment rate is expected to be unchanged at 3.6%. Hourly earnings will gain 0.3% in Nov after October’s 0.2% increase and annual earnings will be stable at 3.0%.

Read more

Gold: Modestly changed to $1475 as markets turn cautious ahead of US NFP

Gold fails to extend the previous day’s recovery while trading near $1475/76 amid Friday’s Asian session. That said, the yellow metal registers failures to close beyond 50-day EMA for the third consecutive day.

Gold News

GBP/USD: 1.3180 holds the key to further upside

GBP/USD traders modestly changed around 1.3160 by the press time of early Asian session on Friday. That said, overbought conditions of the 14-day Relative Strength Index (RSI) and the recent stop in north-run make buyers doubtful.