The US Dollar (USD) managed to regain some balance and clock decent gains, always meandering in the low 98.00s amid investors’ rising expectations ahead of the release of the crucial NFP report.
Here’s what to watch on Friday, September 5:
The US Dollar Index (DXY) regained fresh upside impulse and partially reversed Wednesday’s downtick in a context of extra weakness in US yields across the curve. The Nonfarm Payrolls will be the salient event on September 5, followed by the Unemployment Rate. In addition, the Fed’s Goolsbee is due to speak.
EUR/USD maintained its consolidative phase in place around 1.1650 ahead of the release of key US data. Germany’s Factory Orders, another revision of the Q2 GDP Growth Rate in the euro area, and the final EMU’s Q2 Employment Change will wrap up the calendar.
GBP/USD alternated gains with losses in a tight range near the 1.3450-1.3440 zone against the backdrop of a decent recovery in the Greenback. Retail Sales will take centre stage along with the Halifax House Price Index.
USD/JPY resumed its weekly uptrend, reclaiming the 148.00 hurdle and beyond amid decent gains in the US Dollar. Household Spending is next on tap in Japan, followed by Average Cash Earnings, and the preliminary Coincident and Leading Economic Indexes.
AUD/USD came under fresh downside pressure, faltering just ahead of the 0.6500 region. Next on tap on the Australian docket will be the Balance of Trade results and Household Spending figures.
Prices of the American WTI receded further, revisiting two-week lows in the area below the $63.00 mark per barrel as traders continued to assess the likelihood of output hikes by the OPEC+.
Gold halted its multi-day positive streak, giving away some gains following Wednesday’s all-time tops near the $3,580 mark per troy ounce. The rally in Silver prices also took a breather after rising to their highest level since the summer of 2011 well past the $41.00 mark 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.
