Persistent risk-off sentiment pushed the dollar to multi-day highs on Monday as investors began to prepare for key central bank events and crucial US data releases.
Here’s what you need to know on Tuesday, July 30:
The Dollar Index (DXY) regained bullish traction and rose to multi-day highs near 104.80 amid declining US yields. Consumer confidence measured by the Conference Board takes center stage on July 30 along with June JOLTs job openings, the FHFA House Price Index and the weekly US crude oil inventories report by the API.
EUR/USD came under renewed bearish pressure and tested the 1.0800 support amid the sharp rebound in the Dollar. Germany’s flash inflation rate is due on July 30, followed by preliminary second quarter GDP growth rate in Germany and the Eurozone.
GBP/USD traded inconclusively and ended Monday’s session little changed near 1.2860. The next event risk on the UK agenda will be the BoE interest rate decision on August 1.
Fresh selling pressure on the Japanese yen pushed the USD/JPY to rebound beyond the 154.00 barrier. Japan’s unemployment rate will be released on July 30.
The AUD/USD has resumed its decline and has quickly left behind Friday’s bullish attempt. On July 30, only advanced building permits are expected in Australia.
WTI prices accelerated their downward trend and hit new seven-week lows near the $75.00 per barrel level.
The dollar’s rebound kept gold prices depressed near $2,380 per troy ounce on Monday. Silver followed suit and retreated to two-month lows near $27.30 per ounce.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
