The US Dollar Index (DXY) held onto its weekly recovery and tried to extend a break above 99.00 as US Treasury yields firmed and geopolitical unease persisted. Attention turns to Friday’s US releases, including the Nonfarm Payrolls Annual Revision and the final University of Michigan Consumer Sentiment reading, alongside a Jackson Hole Symposium speech by Fed Chair Warsh. Earlier, the dollar struggled to build on prior gains after briefly touching multi-day highs, with markets also tracking the simmering geopolitical backdrop.
G10 Currency Movements and Key Data Ahead
In G10, EUR/USD stayed on a weekly downtrend and at one point tested its 200-day SMA before edging back above 1.1650, with Germany’s labour market report, final Euroland Consumer Confidence and remarks from ECB’s Schnabel due. GBP/USD hit fresh multi-day lows near 1.3570 then recovered to the 1.3600 area ahead of Nationwide Housing Prices, while USD/JPY rose for a fourth session and revisited 159.50 as Japan prepares unemployment, consumer confidence, housing starts, construction orders and Tokyo inflation. AUD/USD remained bid and neared 0.7200, with quarterly business inventories, housing credit and private sector credit due on August 31; WTI pushed above $83.00 a barrel, and gold traded near $4,560 per troy ounce, around four-day lows.
