The Greenback extended its march north, helped by higher yields and firmer-than-expected results from GDP figures and weekly data of the labour market, all ahead of the publication of key PCE readings on Friday.
Here is what you need to know on Friday, August 30:
The US Dollar Index (DXY) remained firm and extended its breakout of the key 101.00 barrier amidst rising US yields across the board. The release of inflation figures tracked by the PCE takes centre stage on August 30, seconded by Personal Income, Personal Spending, the Chicago PMI, and the final Michigan Consumer Sentiment print.
EUR/USD suffered the Dollar’s rebound and broke below the 1.1100 support to reach multi-day lows. On August 30, Retail Sales are due in Germany, along with the labour market report. In the broader Euroland, the advanced Inflation Rate is expected, followed by the Unemployment Rate and the speech by the ECB’s af Jochnick.
GBP/USD bounced off weekly lows and managed to trim some losses and retreat just marginally on Thursday. Mortgage Approvals and Mortgage Lending will be published on August 30.
USD/JPY rose for the second day in a row, reaching multi-day highs near 145.50 on the back of the strong dollar and higher yields. Busy calendar in Japan on August 30 will release the Unemployment Rate, along with the Jobs/Applications Ratio and Tokyo inflation data. In addition, preliminary Industrial Production is also due, seconded by Retail Sales and Housing Starts.
AUD/USD resumed its robust rally and surpassed once again the key 0.6800 barrier, hitting new tops in levels not traded since early in the year. Housing Credit figures, and Retail Sales are coming on August 30.
Supply concerns stemming from Libya, as well as positive US data releases, lent legs to crude oil prices and lifted WTI to the vicinity of the $77.00 mark per barrel.
Prices of Gold traded in a cautious albeit positive tone near their recent all-time highs beyond the $2,500 mark per ounce troy despite the firm greenback and rising yields. Silver prices partially recouped ground lost in the previous day and approached the $29.70 zone.
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: Extra gains look likely in the near term
AUD/USD added to Wednesday’s gains and broke above the key 0.6200 barrier following the pronounced retracement in the US Dollar amid widespread concerns over the impact of Trump’s tariffs on the global trade.
EUR/USD: There is a minor resistance at 1.1300
EUR/USD gathered renewed steam and advanced north of 1.1200 the figure to clinch new highs, always on the back of intense tariff woes and the marked sell-off in the Greenback.
Gold flirts with record peaks near $3,175, Dollar tumbles
Gold continued its record-setting rally on fresh tariff-related headlines, surging past the $3,170 mark per troy ounce after the White House confirmed new tariffs, sparking another round of US Dollar selling.
Bitcoin miners scurry to import mining equipment following Trump's China tariffs
Bitcoin (BTC) miners are reportedly scrambling to import mining equipment into the United States (US) following rising tariff tensions in the US-China trade war, according to a Blockspace report on Wednesday.
Trump’s tariff pause sparks rally – What comes next?
Markets staged a dramatic reversal Wednesday, led by a 12% surge in the Nasdaq and strong gains across major indices, following President Trump’s unexpected decision to pause tariff escalation for non-retaliating trade partners.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.