- Analytics
- News and Tools
- Market News
- Forex Today: Optimism returns as recession fears dilute
Forex Today: Optimism returns as recession fears dilute
What you need to take care of on Friday, August 16:
The US Dollar seesawed between gains and losses, ending the day mixed across the FX board after United States (US) data brought relief. Speculative interest dropped concerns about a potential recession in the world’s largest economy following the release of healthy employment-related figures and upbeat Retail Sales. Other figures were not that encouraging but fell short of reviving concerns or affecting the odds for a September interest rate cut.
Stocks made the most out of it, as Wall Street extended its rally to fresh weekly highs, with the three major indexes holding on to substantial gains at the end of the day.
The Euro lost the 1.1000 mark versus the US Dollar and settled around 1.0970, while GBP/USD managed to end the day at around 1.2860, as Sterling Pound found support in local data. The UK Q2 Gross Domestic Product (GDP) showed the economy grew 0.6% in the three months to June as expected. Additionally, Manufacturing Production rose 1.1% MoM in June, surpassing expectations.
Safe-haven CHF and JPY edged lower vs the US Dollar, but commodity-linked currencies such as the AUD and the CAD held within familiar levels as stocks’ rally partially offset USD strength.
Gold managed to trim intraday losses and recovered the $2,450 mark ahead of the US close.
Friday will bring speeches from major central bank Governors. Reserve Bank of Australia (RBA) Michele Bullock is due to testify before Congress alongside other policymakers, while Reserve Bank of New Zealand (RBNZ) Adrian Orr is due to speak about monetary policy at an event hosted by the Wellington Chamber of Commerce.
Later in the day, the United Kingdom (UK) will release July Retail Sales, while the United States (US) will publish the preliminary estimate of the August Michigan Consumer Sentiment Index and the Michigan Consumer Inflation Expectations for the same month.
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 Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.31% | -0.26% | 1.13% | 0.07% | -0.21% | 0.25% | 0.71% | |
| EUR | -0.31% | -0.58% | 0.80% | -0.25% | -0.61% | -0.23% | 0.40% | |
| GBP | 0.26% | 0.58% | 1.40% | 0.34% | -0.03% | 0.36% | 1.08% | |
| JPY | -1.13% | -0.80% | -1.40% | -1.07% | -1.35% | -1.02% | -0.32% | |
| CAD | -0.07% | 0.25% | -0.34% | 1.07% | -0.28% | 0.02% | 0.74% | |
| AUD | 0.21% | 0.61% | 0.03% | 1.35% | 0.28% | 0.37% | 1.09% | |
| NZD | -0.25% | 0.23% | -0.36% | 1.02% | -0.02% | -0.37% | 0.72% | |
| CHF | -0.71% | -0.40% | -1.08% | 0.32% | -0.74% | -1.09% | -0.72% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
