The announcement of President Trump on a commercial agreement between the US and Japan and the perspectives of a possible agreement between the US and the EU weighed on the US dollar (USD), which added to the persistent weakness in progress.
This is what you have to observe on Thursday, July 24:
The US dollar index (DXY) fell modestly and reviewed the 97.20 area in a hesitant way near the 97.50 zone while the operators evaluated the recent improvement in the commercial front. The attention is expected to focus on the initial applications of weekly unemployment subsidy, followed by the publication of the PMI manufacturing and preliminary services of Global S&P, the sales of new housing and the national activity index of the Fed of Chicago.
The EUR/USD registered decent profits and flirted with two -week maximums around 1,1770 amid a growing commercial optimism. The ECB occupies the center of attention and is widely anticipated that it will maintain its policy rates without changes, while the publication of the PMI manufacturing and preliminary services of Hcob will also capture the attention.
The optimistic tone around the sterling pound remained well in place, raising the GBP/USD to peaks of several days about 1,3580. The manufacturing PMIs and preliminary services of S&P global will be in the center of attention, followed by the CBI business optimism index and the orders of CBI industrial trends.
The USD/JPY registered its third consecutive daily setback, approaching the key support of 146.00 after the announcement of the commercial agreement between the US and Japan. The manufacturing PMIs and advanced services of Jibun Bank are scheduled for Thursday on the Japanese agenda.
Finally, the Aud/USD reached the 0.6600 mark for the first time since the beginning of November 2024, since the feeling was backed after the US and Japan ensured a commercial agreement. PMI manufacturing and preliminary services of Global S&P in Australia are expected.
The prices of the American WTI maintained the negative streak of several days on Wednesday, falling again below the mark of $ 65.00 per barrel, since the operators were still concerned about the increase in commercial fears before the deadline of August 1, while they also evaluated the inventories of the US oil raw than expected during the past week.
Gold prices arrested their three-day recovery on Wednesday, returning to the area of less than $ 3,400 per Troy ounce due to a certain decrease in commercial uncertainty after the US agreement.-Japan and the prospects of an agreement USA. Silver prices rose to new maximums around $ 39.50 per ounce, although they yielded most of that advance as the day progressed.
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.
