Here is what you need to know for Friday, August 7: The US Dollar (USD) posted gains against every major currency on Thursday, with the US Dollar Index (DXY) up 0.26% near the 100.00 level as Oil rallied 3% on the reported Strait of Hormuz vessel ban, while Gold and Silver…
clined. The Greenback was supported by positive labor market data, with Initial Jobless Claims missing forecasts at 199K and Challenger Job Cuts at 33.429K in July, its lowest print in the last two years
With Nonfarm Payrolls a day away, the path of least resistance was to trim risk, and that meant buying US Dollars. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.
The commodity picture points the same way. West Texas Intermediate (WTI) Oil is up 3% at $77 per barrel after reports that vessels linked to the United States (US), Israel, and other countries Tehran considers hostile would be barred from the Strait of Hormuz under the proposed agreement. Gold is down 0.09% at $4,243 after briefly recovering the $4,300 level, and Silver is off 0.84% at $62.