What you need to take care of on  Friday, August 26:

The greenback ended Thursday mixed across the FX board, although there were no significant changes among major pairs. Investors are mildly optimistic as macroeconomic figures were upbeat but cautious ahead of central banks' governors, set to speak within the Jackson Hole Economic Symposium.

Germany reported that the Q2 Gross Domestic Product rose by 1.7% YoY, better than the 1.4% previously estimated. In the quarter, it was up by 0.1%, revised from 0% previously. Also, the August IFO survey showed the Business Climate reached 88.5, better than the 86.8 expected. Expectations and the assessment of the current situation were better than anticipated.

The European Central Bank released the minutes of its latest meeting, which showed that a "very large number" of Governing Council members agreed that it was appropriate to raise key rates by 50 basis points while also noting that members agreed that it was "appropriate to take further steps on the path of monetary policy normalisation."

The US published the second estimate of the Q2 GDP, which was upwardly revised from -0.9% to -0.6%. Additionally, Initial Jobless Claims for the week ended August 19 declined to 243K, beating the market expectations.  

The EUR/USD pair briefly traded above parity but could not retain gains and stabilised around 0.9970, unchanged for a third consecutive day. GBP/USD holds above the 1.1800 figure. The USD/CAD pair is at around 1.2920, while the Australian dollar was the best performer vs the greenback, now trading at around 0.6980.

Spot gold is up for a third consecutive day and currently trades at around $1,757 a troy ounce. Crude oil prices, on the other hand, gave back some ground, and WTI stands at $93.10 a barrel.

Bitcoin Price Prediction: How Biden's debt relief program could trigger the next BTC rally


Like this article? Help us with some feedback by answering this survey:

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD falls below 1.0500 after US NFP data

EUR/USD falls below 1.0500 after US NFP data

EUR/USD dropped below 1.0450 but managed to stage a modest rebound. The US Dollar preserves its strength against its rivals and doesn't allow the pair to gain traction after the data from the US showed that Nonfarm Payrolls rose by 263,000 in November.

EUR/USD News

GBP/USD turns south on upbeat US jobs report, trades below 1.2200

GBP/USD turns south on upbeat US jobs report, trades below 1.2200

GBP/USD lost nearly 100 pips with the immediate reaction to the upbeat November jobs report from the US and broke below 1.2200. The US Dollar Index clings to strong daily gains above 105.00 after the data showed that Nonfarm Payrolls rose by 263,000.

GBPUSD News

Gold retreats below $1,790 as US yields surge on US NFP

Gold retreats below $1,790 as US yields surge on US NFP

Gold price turned south and dropped below $1,790 in the early American session. The benchmark 10-year US Treasury bond yield is up more than 2% on the day near 3.6% after the bigger-than-expected November job growth, weighing heavily on XAU/USD.

Gold News

FTX exchange collapse, loss of $3.1 billion could have been avoided on one condition

FTX exchange collapse, loss of $3.1 billion could have been avoided on one condition

FTX exchange, founded by Samuel Bankman-Fried (SBF), has consistently made headlines over the past month for its liquidity crisis and triggering a collapse in the crypto ecosystem.

Read more

AMC advances more than 3% in premarket day after being halted

AMC advances more than 3% in premarket day after being halted

AMC stock is up 3.4% in Friday's premarket just a day after authorities halted trading due to unusual volatility. Thursday saw options volume three times higher than the 20-day average.

Read more

Forex MAJORS

Cryptocurrencies

Signatures