The US dollar (USD) joined the continuous rebound and fed confidence at the beginning of the week while investors evaluated the recent trade agreements between the United States, Japan and the European Union. Meanwhile, investors are expected to direct their attention to the imminent FOMC meeting and the publication of non -agricultural payrolls.
This is what you have to observe on Tuesday, July 29:
The American dollar index (DXY) rose for the third consecutive day, claiming the area well above 98.00 and advancing for the third consecutive day. The preliminary results of the trade balance of goods are expected, followed by wholesale inventories, the FHFA housing price index, Jolts employment offers, the consumer’s confidence of the Board Conference, the Dallas Fed Services Index and the weekly report of the API on the inventories of the US crude oil inventories.
The EUR/USD fell to a minimum of several days and retreated the area below 1,1600 after the commercial agreement between the US and the EU and the continuation of the upward trend in the dollar. The consumer inflation expectations of the ECB are expected.
The GBP/USD deflated at levels not seen since mid -May about 1,3350 unfinishedly in the low 1,3400 due to the solid performance of the dollar. Consumer credit figures of the BOE will be published together with the M4 money supply and new loans to individuals. In addition, mortgage loans and mortgage approvals are expected.
The USD/JPY extended its ride on Monday, going up for the third consecutive day and overcoming the 148.00 barrier amid more profits in the US dollar. The following on the Japanese agenda will be the decision on the interest rate of the BOJ, industrial production, retail sales and investment figures in foreign bonds, all scheduled for July 31.
The AUD/USD backed away at least four days and approached the neighborhood of 0.6500 after the best feeling around the US dollar. The following in the Australian calendar will be the publication of the inflation rate on July 30.
The prices of crude oil bounced sharply, reaching the level of 67.00 per barrel of WTI, or maximum of several days, while the operators evaluated the commercial agreement between the US and the EU and the shortest term of Trump so that Russia ends its conflict with Ukraine.
The gold maintained its position offered well instead, deflating at least three weeks and testing the level of $ 3,300 per Troy ounce due to the firmer dollar and additional optimism in the commercial front. In the same way, silver prices joined the ongoing setback and broke below the 38.00 $ per ounce support.
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.
