This is what you need to know to trade today Thursday August 10:
As of early Thursday, the US dollar fails to find demand as investors stand on the sidelines awaiting US Consumer Price Index (CPI) data. The Dollar Index remains in negative territory below 102.50 after posting small daily losses on Wednesday. Weekly jobless claims will also be reported on the US economic calendar and several Federal Reserve (Fed) officials will speak later in the day.
US CPI Preview: Bullish Surprises Likely to Boost USD Strongly
The US annual CPI is expected to rise 3.3% in July, slightly higher than the 3% increase recorded in June. Ahead of the inflation data, CME Group’s FedWatch tool shows that markets are pricing the probability that the Fed will raise the policy rate once more this year at more than 25%.
dollar price today
Below is the percentage change of the US dollar (USD) against the main currencies. The US dollar was the weaker currency against the Australian dollar.
| USD | USD | GBP | CAD | AUD | JPY | USD | CHF | |
| USD | -0.14% | -0.07% | -0.13% | -0.25% | 0.16% | -0.17% | -0.08% | |
| USD | 0.15% | 0.07% | 0.04% | -0.08% | 0.30% | -0.01% | 0.07% | |
| GBP | 0.07% | -0.08% | -0.03% | -0.14% | 0.27% | -0.08% | 0.00% | |
| CAD | 0.11% | -0.05% | 0.03% | -0.12% | 0.26% | -0.05% | 0.03% | |
| AUD | 0.26% | 0.12% | 0.19% | 0.13% | 0.41% | 0.09% | 0.17% | |
| JPY | -0.16% | -0.35% | -0.26% | -0.30% | -0.42% | -0.34% | -0.27% | |
| USD | 0.17% | 0.02% | 0.10% | 0.04% | -0.07% | 0.32% | 0.08% | |
| CHF | 0.11% | -0.07% | 0.00% | -0.03% | -0.15% | 0.27% | -0.08% |
The heat map shows the percentage changes of major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the Euro in the left column and move across the horizontal line to the Japanese Yen, the percentage change in the box will represent EUR (base)/JPY (quote).
Meanwhile, the 10-year US Treasury yield is holding steady around 4% and US stock index futures are trading in positive territory despite concerns over escalating US-China tensions. US President Joe Biden signed into law late Wednesday the bill that will restrict US investment in certain Chinese entities. In response, “we hope that the US side will abide by the laws of the market economy and the principle of fair competition, refrain from artificially impeding global economic and trade exchanges and cooperation, as well as putting obstacles to the recovery of economic growth world,” said a spokesman for the Chinese Ministry of Commerce.
He EUR/USD continues to advance towards 1.1000 after posting small daily gains on Wednesday. The European Central Bank (ECB) monthly Economic Bulletin is expected to be released late in the day.
He GBP/USD it closed in the red for the second day in a row on Wednesday, but managed to hold above 1.2800. The pair is trading in a narrow channel early on Thursday. The UK’s Office for National Statistics will publish second-quarter Gross Domestic Product (GDP) figures on Friday.
He USD/JPY continuous rising and on Thursday reached its highest level in a month near 144.00. Data from Japan showed the Producer Price Index (PPI) rose 3.6% on an annual basis in July, down from 4.1% in June, but slightly above market expectations of 3.5%.
On Wednesday, the price of gold extended its weekly slide and fell below $1,920 for the first time since July 11. The XAU/USD it is relatively calm as of early Thursday and fluctuates slightly below that level.
After Tuesday’s failed attempt to break above $30,000, the Bitcoin fell back on Wednesday. At time of writing, the BTC/USD pair is trading sideways around $29,500. He ethereum It is holding steady around $1,850 after closing virtually unchanged on Wednesday.
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.
