Here is what you need to know on Thursday, August 17:
Major currency pairs trade near Wednesday's closing levels early Thursday amid a lack of catalysts. The US Dollar Index, which touched its highest level since January at 103.60 earlier in the day, consolidates its weekly gains below 103.50 in the European session and US stock index futures trade modestly higher following the selloff seen in Wall Street on Wednesday. Weekly Initial Jobless Claims and Federal Reserve Bank of Philadelphia's Manufacturing Survey will be featured in the US economic docket later in the day.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
USD | -0.06% | -0.06% | -0.07% | 0.27% | -0.07% | 0.07% | -0.05% | |
EUR | 0.06% | -0.01% | -0.01% | 0.33% | -0.02% | 0.13% | 0.00% | |
GBP | 0.06% | 0.00% | -0.01% | 0.34% | -0.01% | 0.14% | 0.01% | |
CAD | 0.07% | 0.02% | 0.01% | 0.35% | 0.00% | 0.15% | 0.02% | |
AUD | -0.25% | -0.33% | -0.34% | -0.35% | -0.34% | -0.20% | -0.30% | |
JPY | 0.06% | 0.01% | -0.01% | -0.01% | 0.33% | 0.15% | 0.01% | |
NZD | -0.06% | -0.14% | -0.14% | -0.14% | 0.19% | -0.15% | -0.13% | |
CHF | 0.06% | 0.00% | 0.00% | -0.02% | 0.31% | -0.01% | 0.13% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Minutes of the Federal Reserve's July policy meeting showed late Wednesday that a couple of policymakers indicated that they favored leaving the policy rate unchanged. Nevertheless, the publication further noted participants agreed inflation risks could require further policy tightening. According to the CME Group FedWatch Tool, markets are currently pricing in a more than 30% probability of the Fed raising the policy rate once again by 25 basis points before the end of the year. Meanwhile, the benchmark 10-year US yield stays in positive territory near 4.3%.
During the Asian trading hours, the Australian Bureau of Statistics (ABS) reported that the Unemployment Rate rose to 3.7% in July from 3.5% in June. Full-time Employment declined more than 24,000 in the same period and the Participation Rate ticked down to 66.7%. AUD/USD came under bearish pressure after the jobs report and was last seen losing nearly 0.5% on the day at around 0.6400.
The data from Japan revealed that Machinery Orders contracted by 5.8% on a yearly basis in June. Imports and Exports decreased 13.5% and 0.3%, respectively, in the same period. USD/JPY showed no reaction to these figures and touched its highest level since November at 146.56 in the Asian session before retreating to the 146.20 area.
EUR/USD dropped to a multi-week low below 1.0900 and failed to stage a rebound in the Asian session. The pair stays relatively quiet below that level in the European morning.
Despite the broad-based USD strength, GBP/USD managed to post modest daily gains on Wednesday, supported by the UK inflation data. The pair fluctuates in a tight range below 1.2750 on Thursday. The UK's Office for National Statistics will release Retail Sales data for July on Friday.
Pressured by rising US T-bond yields, Gold price continued to push lower on Wednesday and touched its weakest level since March below $1,890. Early Thursday, XAU/USD recovers modestly but remains below $1,900.
Bitcoin broke below its three-week-old trading range on Wednesday and dropped to its lowest level since early June near $28,300. Early Thursday, BTC/USD seems to have stabilizes slightly above $28,500. Ethereum lost more than 1% on Wednesday and was last seen trading modestly lower on the day below $1,800.
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.
Recommended content
Editors’ Picks
AUD/USD: Outlook is still bearish below 0.6630
AUD/USD extended its gains from Wednesday, supported by continued selling pressure on the US Dollar. However, weak performance in the commodities market and disappointing Chinese PMI data limited the Australian dollar's upward potential.
EUR/USD extends upside above 1.0850, with all eyes on US NFP data
The EUR/USD pair extends the rally to 1.0885 during the early Asian session on Friday. The uptick of the major pair is bolstered by the weakening of the US Dollar. All eyes will be on the US Nonfarm Payrolls, which is due later on Friday.
Gold retreated sharply, trades around $2,740
Prices of Gold trade markedly on the defensive on Thursday following a marginal uptick in the Greenback and declining US yields. Despite the daily pullback, the yellow metal is anticipated to remain bolstered by steady uncertainty pre-US election.
Maker Price Forecast: MKR could stage 40% rally
MakerDAO is up 2% on Thursday and could be set for a 40% rise in the coming weeks if it successfully maintains an extended move above the descending trendline of a falling wedge. On-chain data also supports the bullish outlook after a four-month-long decline.
Bank of Japan holds rates steady amid signs of modest GDP growth
Monthly industrial production results have been mixed but generally indicate a modest recovery in third-quarter GDP. Clear guidance from the Bank of Japan remains elusive, with each upcoming meeting being pivotal.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.