What you need to know on Friday, July 30:
The dollar continued to decline and reached new weekly lows against most major rivals as US data fell short of market expectations. The Gross Domestic Product for the second quarter showed that the economy grew at an annualized rate of 6.5%, better than the previous 6.4%, although it did not reach the 8.6% expected. Additionally, Initial Jobless Claims for the week ending July 23 printed at 400,000, worse than anticipated.
EUR / USD is trading close to 1.1900 while GBP / USD is close to 1.4000. The loonie also hit new highs against the dollar, but the AUD / USD is stagnant around 0.7400 as demand for the Australian dollar remains weak.
The Japanese yen appreciated on the back of a better market mood, with USD / JPY trading around 109.40.
Spot gold jumped to $ 1,832.62 a troy ounce, its highest level in two weeks, while crude oil prices also hit new highs, and WTI closed the day at $ 77.50 a barrel.
Wall Street closed higher, still backed by relief after the Fed hinted there is no rush to decline. Yields on US government debt rose.
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