Forex Today: Persistent pressure on the dollar

Valeria Bednarik FXStreet

What you need to know on Friday, July 30:

The greenback kept falling and reached fresh weekly lows against most major rivals, as US data missed the market’s expectations. Q2 Gross Domestic Product showed the economy grew at an annualized pace of 6.5%, better than the previous 6.4%, although missing the 8.6% expected. Also, Initial Jobless Claims for the week ended July 23 printed at 400K, worse than anticipated.

EUR/USD trades near 1.1900 while GBP/USD approaches the 1.4000 figure. The Canadian dollar also reached fresh highs against the greenback, but AUD/USD is stuck around 0.7400 as demand for the aussie remains scarce.

The Japanese yen appreciated on the back of a better market’s mood, with USD/JPY trading around 109.40.

Spot gold jumped to $1,832.62 a troy ounce, its highest in two weeks, while crude oil prices also reached fresh highs, with WTI ending the day at $77.50 a barrel.

Wall Street closed in the green, still underpinned by relief after the Fed hint at no rush to taper. US government bond yields ticked higher.

SafeMoon price is in a sweet spot, as SAFEMOON adoption grows with double reflections token

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Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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