Forex News

EUR/USD now manages to regain balance and approaches the 1.1700 barrier as the US Dollar appears under sudden downside pressure. The pair, in the meantime, reverses initial losses as investors continue to assess the latest US PCE data and factor in expectations of a rate cut by the Federal Reserve at its September 17 meeting.

GBP/USD comes under renewed downside pressure at the end of the week, navigating the 1.3470 region against the backdrop of a modest resurgence of the buying interest in the Greenback. US inflation tracked by the PCE matched consensus in July, opening the door to a rate reduction by the Fed next month.

Gold keeps its march north well and sound, up for the fourth day in a row on Friday, and challenging multi-month peaks near the $3,450 mark per troy ounce on the back of steady bets for a rate cut by the Federal Reserve in September. The likelihood of further easing by the Fed appears propped up by the eaerlier release of US inflation data, this time measured by the PCE.

Cryptocurrencies remain under pressure on Friday, reflecting risk-off sentiment ahead of September. Attempts to sustain Bitcoin (BTC) price recovery have consistently failed, with Bitcoin trading below $110,000 at the time of writing.

Will August jobs report shock again? It’s almost one month ago that the July payrolls numbers generated not just considerable volatility in the markets but also a lot of controversy, as it offended President Trump’s record on the economy.