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US Dollar Index Price Forecast: Likely find direction after US NFP release
The US Dollar (USD) consolidates against its major currency peers on Friday, with investors awaiting the United States (US) Nonfarm Payrolls (NFP) data for July, which will be published at 12:30 GMT.
India FX Reserves, USD: $692.87B (July 27) vs $682.35B
India FX Reserves, USD: $692.87B (July 27) vs $682.35B
India Bank Loan Growth remains at 17.7% in July 20
India Bank Loan Growth remains at 17.7% in July 20
Euro: Upside bias hinges on 1.1565 break against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report EUR/USD has retreated to 1.1524 after failing several times near 1.1560. Intraday, they see scope for further pullback but expect strong support at 1.1495 to hold.
Gold heads for best week since January after disappointing NFP
Gold (XAU/USD) extends its recovery on Friday as weaker-than-expected US payroll growth weighs on the US Dollar (USD) and US Treasury yields. At the time of writing, XAU/USD trades around $4,356 after hitting $4,371, its highest level since June 17.
US Dollar: Strong payrolls may offer only limited support – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad expects the July United States (US) non-farm payrolls to show resilient labor demand, with consensus around 80k jobs and unemployment steady at 4.2%.
Oil: Prices jump on Hormuz tensions – MUFG
MUFG’s Michael Wan notes that Oil has spiked on renewed tensions in the Strait of Hormuz, even as Brent remains below US$85/bbl. He highlights Iran’s proposed restrictions on US and Israeli ships and regional conflict risks.
Canadian Dollar lacks direction ahead of twin US, Canadian employment releases
USD/CAD trades around 1.4020 on Friday at the time of writing, up a modest 0.06% on the day with no clear directional bias as investors remain cautious ahead of the release of US and Canadian July employment reports.
Australian Dollar edges up against US Dollar with NFP data in focus
The Australian Dollar (AUD) trades slightly higher to near 0.7040 against the US Dollar (USD) during the European trading session on Friday.
1.1560: Why the Euro's recovery is facing its biggest technical hurdle
The Euro (EUR) has staged a notable recovery from its mid-June lows against the US Dollar (USD), driven in part by financial markets dialing back expectations for further Federal Reserve (Fed) interest rate hikes.
Gold Price Forecast: XAU/USD rallies further with bulls eyeing $4,380 area
Gold (XAU/USD) resumes its bullish trend on Friday, after a brief consolidation on Thursday, to reach fresh three-week highs above $4,300, with bulls aiming for mid-June highs in the $4,380 area.
US President Trump: Warsh is great and I won’t criticize him
United States (US) President Donald Trump said in an interview with Punchbowl, released during the European trading session on Friday, that a potential interest rate hike by the Federal Reserve (Fed) is not completely on Chairman Kevin Warsh, but on the entire board.
Portugal Global Trade Balance down to €-9.441B in June from previous €-8.705B
Portugal Global Trade Balance down to €-9.441B in June from previous €-8.705B