The Greenback alternated gains with losses amidst further appreciation of the Japanese yen and a decent pullback in US yields across the curve, while firmer-than-expected US data appear to have trimmed some rate cut bets in September.
Here is what you need to know on Friday, July 26:
The USD Index (DXY) remained on the defensive in the low-104.00s, always closely following developments around the Japanese yen and expectations of rate cuts beyond the summer. On July 26, the PCE readings will take centre stage seconded by Personal Income, Personal Spending and the final Michigan Consumer Sentiment.
EUR/USD set aside two consecutive daily declines and climbed to two-day highs near 1.0870. The ECB will release its Consumer Inflation Expectations survey on July 26.
GBP/USD remained on the back foot for the third session in a row following rising speculation of a rate cut by the BoE next week. The UK calendar will be empty on July 26.
Following fresh lows in the sub-152.00 zone, USD/JPY managed to reverse that early move and approach the 154.00 barrier towards the end of the NA session. The Tokyo inflation figures along the final readings of the Coincident Index and the Leading Economic Index are due on July 26.
AUD/USD extended its intense bearish move to the boundaries of the 0.6500 level for the first time since early May. There will be no data releases in Australia on July 26.
Prices of WTI added to Wednesday’s uptick and reclaimed the area beyond the $78.00 mark per barrel.
Traders cashed up part of recent gains and motivated Gold prices to retreat to multi-day lows around $2,360 per ounce troy. Silver, in the meantime, sold off to fresh two-month lows in the sub-$28.00 region per ounce.
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.
