What to watch for on Friday, August 12:
The dollar swung between gains and losses, ending the day lower against most major rivals. Wall Street opened the day firmly higher amid more signs of receding inflationary pressures in the United States, as the producer price index for July advanced 9.8%, lower than expected.
However, as US government bond yields rose, equities lost steam, helping the dollar to regain some ground before the daily close. For now, US indices are trading mixed around their opening levels, while the 10-year Treasury yield stands at 2.88%.
The EUR/USD pair peaked around 1.0360 for the second day in a row and settled around 1.0320. GBP/USD is trading just below 1.2200 ahead of the UK data release. The country will publish the preliminary estimate of the Gross Domestic Product for the second quarter and the industrial and manufacturing production for June.
AUD/USD is hovering around 0.7100, while USD/CAD is trading around 1.2770. Lastly, safe-haven currencies eased at the end of the day, ending virtually unchanged. USD/CHF hovers around 0.9420, while USD/JPY stands at 133.10.
Gold fell and is now trading at $1,785 a troy ounce. Oil rose, with WTI ending at $94.00 a barrel.
Source: Fx Street
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