The US Dollar (USD) has navigated an inconclusive range on Thursday, struggling to build on the previous day’s gains and briefly reaching multi-day peaks.
In the meantime, geopolitical tensions has been simmering on the back burner, while investors have geared up for Friday’s US NFP revision and the speech by the Fed’s Warsh
Here is what you need to know on Friday, August 28: The US Dollar Index (DXY) has managed to maintain the weekly recovery in place, looking to extend the recent breakout above the 99.00 hurdle. The better tone in US Treasury yields and steady geopolitical uncertainty have also bolstered the uptick. Next on tap on the US docket will be the release of the Nonfarm Payrolls Annual Revision, the final U-Mich Consumer Sentiment gauge and the speech by Chair Warsh at the Jackson Hole Symposium.
EUR/USD has extended its weekly downtrend, at some point flirting with its key 200-day SMA, although it managed to attempt some recovery past 1.1650 afterwards. Closer to home, Germany’s labour market report should gather all the attention alongside the final prints of the Consumer Confidence in the Euroland and the speech by the ECB’s Schnabel. GBP/USD has slipped back to fresh multi-day lows, challenging 1.3570 prior to recovering ground and reclaiming the 1.3600 region.