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EUR/GBP maintains position near 0.8650 ahead of German CPI inflation
EUR/GBP holds ground after registering gains in the previous session, trading around 0.8640 during the early European hours on Friday. The currency cross moves little following the release of German Retail Sales data. German preliminary inflation readings are next in focus.
WTI drops below $64.00 on demand concerns
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.95 during the early European trading hours on Friday. The WTI loses ground amid expectations of lower demand in the United States (US).
Forex Today: US Dollar stabilizes ahead of key PCE inflation data
Here is what you need to know on Friday, August 29:
USD/CAD hovers around 1.3750 ahead of US PCE, Canada GDP Annualized data
USD/CAD halts its three-day losing streak, hovering around 1.3750 during the Asian trading hours on Friday. The pair maintains its position as the US Dollar (USD) advances as the United States (US) economy grew in the second quarter.
EUR/JPY holds negative ground below 171.50 after German Retail Sales data
The EUR/JPY cross loses momentum to around 171.45 during the early European session on Friday. The Euro (EUR) weakens against the Japanese Yen (JPY) after the downbeat German Retail Sales data.
Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $64.03 per barrel, down from Thursday's close at $64.10.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $67.59 after its previous daily close at $67.62.
US core PCE inflation set to rise 2.9% YoY in July amid rising bets of Fed rate cut in September
The United States (US) Bureau of Economic Analysis (BEA) will publish the Personal Consumption Expenditures (PCE) Price Index data for July on Friday at 12:30 GMT.
GBP/USD Price Forecast: Tests the confluence zone around 1.3500, nine-day EMA support
The GBP/USD pair halts its three-day winning streak, trading around 1.3500 during the Asian hours on Friday. The bullish bias prevails as the daily chart's technical analysis suggests that the pair remains within the ascending channel pattern.
USD/CHF trades slightly higher around 0.8030 ahead of US PCE inflation data
The USD/CHF pair attracts slight bids and rises to near 0.8025 during the European trading session on Friday.
USD/INR rises ahead of India's Q2 GDP, US PCE inflation data
The Indian Rupee (INR) opens on a weak note against the US Dollar (USD) on Friday.
Silver Price Forecast: XAG/USD tumbles below $39.00 ahead of US PCE inflation data
The Silver price (XAG/USD) slumps to near $38.80 during the early European trading hours on Friday. The white metal edges lower amid some profit-taking and a stronger US Dollar (USD).
When are the German Retail Sales and how could they affect EUR/USD?
Germany's Retail Sales are expected to rise by 2.6% year-over-year (YoY) in July, in comparison to the previous increase of 4.9%. Meanwhile, the monthly Retail Sales are forecast to see a decline of 0.4% in July, following a previous increase of 1.0%.
India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Friday, according to data compiled by FXStreet.
US Dollar Index surges near 98.00 ahead of PCE Price Index data
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground after three days of losses and trading around 98.00 during the Asian hours on Friday.
NZD/USD advances to near 0.5900 ahead of US PCE inflation data
The NZD/USD pair extends its upside to near 0.5900 during the Asian trading session on Friday. The Kiwi pair strengthens as the market sentiment is favorable for riskier assets on firm expectations that the Federal Reserve (Fed) will cut interest rates in the September policy meeting.
Gold retreats from a five-week high on profit-taking, stronger US Dollar
The Gold price (XAU/USD) edges lower during the Asian trading hours on Friday. The yellow metal retreats from near a five-week high of $3425 in the previous session amid some profit-taking.
EUR/USD falls to near 1.1650 ahead of German Retail Sales, CPI data
EUR/USD loses ground after three days of losses, trading around 1.1660 during the Asian hours on Friday. Traders await July Retail Sales and August preliminary Consumer Price Index (CPI) data from Germany later in the day.
Japan's Kato says he is aware of rising interest rates
Japanese Finance Minister Katsunobu Kato said on Friday that he is aware of rising interest rates, adding that he will continue to engage with bond market participants and manage debt policies appropriately.
China's NDRC says will expand consumption, optimizing investment structure
The National Development and Reform Commission of the People's Republic of China (NDRC) said on Friday that they are aware that household consumption capability and confidence need to be improved. China's State Planner added that they will expand consumption and optimize investment structure.
US Vice President Vance: Don't think we allow bureaucrats to make monetary policy decisions
US Vice President (VP) JD Vance, in an interview with USA Today on Thursday, confirmed the end of the Federal Reserve's (Fed) autonomy.
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