EUR/USD picked up 19 focuses to exchange at 1.3384 against a feeble greenback which dialed down's highs today ahead a huge number of US eco information due later in the session. The euro was on track for its fifth week of misfortunes against the dollar on Friday, and drifted close to five-month lows against the Swiss franc on developing stresses over the euro zone's melancholy monetary prospects and more financial jolt.
GBP/USD gained a few points after the release of UK GDP. The pair added 8 points to trade at 1.6695 reversing the losing streak from the week after a disappointing inflation report and dovish comments from the Bank of England. The dollar held steady on easing concerns over the situation in Ukraine as Russian President Vladimir Putin called for an end to the crisis in the violence-wracked country.
AUD/USD is flat this morning trading at 0.9320 showing no notice to the decline in motor vehicle sales. Traders are waiting for tomorrow’s bank monetary policy minutes. The US dollar eased a bit offsetting lackluster data and worries about Chinese growth. This week traders will watch a slew of US data including FOMC minutes and a speech from Janet Yellen at Jackson Hole to give the US dollar some volatility.
USD/JPY eased 8 points as the greenback fell and traders moved back to the weak yen taking advantage of last week’s decline. The pair is trading at 102.28. Last week had seen a positive surge in the strength of the Yen. This was fuelled by increased demand for the Yen’s safe haven qualities in light of mounting geopolitical tension. However, many of the Japanese domestic data releases this week were less-than-impressive which held back a healthy surge against most of the majors.
Gold is trading at 1313.40 down by $2.30 giving back yesterday’s gains as the commodity moves between gains and losses with no trend direction. The global economic recovery is facing headwinds with China’s financing growth being much weaker than expected, the U.S. latest jobless claims climbing to 311,000 compared to 295,000 expected, and the Eurozone posting a zero percent growth in Q2 compared to 0.2% in Q1