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The US Dollar Index (DXY) extended its slide on Friday, holding below 100.00 at fresh lows after a fourth straight soft US data print. The preliminary Michigan Consumer Sentiment survey fell to 51 in August from 55.2, well short of forecasts, capping a week that also brought cooler inflation and a weak Retail Sales report.
As a result, bets on a September Federal Reserve (Fed) rate hike have faded further. The coming week hands the Dollar no top-tier data of its own. Instead, Wednesday's Federal Open Market Committee (FOMC) Minutes from the July meeting take center stage, offering the detail behind the hawkish split that unsettled markets late last month.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.34% | -0.37% | -0.08% | -0.41% | -0.33% | -0.65% | -0.10% | |
| EUR | 0.34% | -0.02% | 0.24% | -0.11% | 0.00% | -0.31% | 0.22% | |
| GBP | 0.37% | 0.02% | 0.28% | -0.08% | 0.04% | -0.26% | 0.25% | |
| JPY | 0.08% | -0.24% | -0.28% | -0.32% | -0.26% | -0.59% | -0.03% | |
| CAD | 0.41% | 0.11% | 0.08% | 0.32% | 0.07% | -0.23% | 0.29% | |
| AUD | 0.33% | 0.00% | -0.04% | 0.26% | -0.07% | -0.31% | 0.22% | |
| NZD | 0.65% | 0.31% | 0.26% | 0.59% | 0.23% | 0.31% | 0.55% | |
| CHF | 0.10% | -0.22% | -0.25% | 0.03% | -0.29% | -0.22% | -0.55% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Elsewhere, the United Kingdom (UK) delivers a full slate of jobs on Tuesday, inflation on Wednesday and Retail Sales on Friday while Japan opens the week on Sunday with second-quarter Gross Domestic Product (GDP). China's July activity data on Monday and a People's Bank of China (PBoC) rate decision on Thursday set the tone for the commodity currencies, and flash PMIs across the major economies close the week on Friday.
EUR/USD ends the week in the upper 1.1500s, at fresh two-month highs and within reach of 1.1600. The Eurozone calendar is light on surprises: the German ZEW survey lands on Tuesday. Friday's flash PMIs are the main domestic test. With the ECB content to wait, the pair stays a Dollar story.
GBP/USD trades near three-month peaks around 1.3560 as it closes the week. Tuesday brings the UK labor market report, Wednesday the July inflation figures, headline Consumer Price Index (CPI), is seen accelerating toward 3%, and Friday Retail Sales. A hot inflation print would complicate the Bank of England's (BoE) path and could hand Cable fresh support, while a soft set of numbers would give it its first real domestic drag in weeks.
USD/JPY ends the week in the low-159.00s, with a weak Yen offsetting the softer Dollar after the pair's sharp swings earlier this month. Japan's own calendar is busier than usual with second-quarter GDP on Sunday, seen at 0.5% on the quarter, and National inflation figures later in the week.
AUD/USD trades around 0.7080, its best in two months. With the Reserve Bank of Australia (RBA) having already met, attention turns to Thursday's jobs report, employment growth is expected to slow sharply from June's pace and to China. Monday's Chinese Industrial Production and Retail Sales and Thursday's PBoC decision will steer the Aussie as much as anything at home.
West Texas Intermediate (WTI) Oil ends the week in the low-$80s per barrel, firmer on Friday after a choppy stretch. With no major oil-specific data due, the crude story stays tied to the Strait of Hormuz, where traffic has been slow to recover even after the waterway was declared open.
Gold ends the week near $4,380, closing in on $4,400 after a strong run built on the sliding Dollar and fading Fed hike bets. With no top-tier US data due, Wednesday's FOMC Minutes are the key event: a dovish read would extend the move.
Commerzbank notes that the Kospi has rebounded 29.5% from its 30 July low, supported by strong tech earnings and improved sentiment toward semiconductor and memory chipmakers. They note USD/KRW has retreated nearly 8.9% from its July high as exporters’ repatriation and foreign portfolio inflows bolster the Korean Won. Despite a modest 0.3% rise to 1,421 on a stronger Dollar, KRW is the second-strongest Asian currency this year, up 1.5% versus USD and outperforming the regional ex-Japan average of -2.1%. Further volatility moderation in equities may offer near-term KRW support.
USD/KRW retreats from July peak
"The South Korean equity benchmark Kospi rose 3.6% yesterday, following a 3.7% rally on Wednesday. The index has now rebounded by 29.5% from its 30 July low. The recovery was driven by strong tech earnings, which boosted market sentiment toward semiconductor names and lifted South Korean chipmakers."
"This combination of recovering semiconductor sentiment and easing Kospi volatility has enticed foreign investors to re-enter the market. Since 30 July, foreign investors have net bought USD1.9bn of South Korean equities. A further moderation in volatility could support additional portfolio inflows and provide near-term support for the KRW."
"USD/KRW rose 0.3% to 1,421 yesterday, driven by a stronger USD. Nonetheless, the pair has fallen by nearly 8.9% from its July high of 1,559, as exporters' repatriation activity and foreign portfolio inflows continue to support the KRW."
"Year-to-date, KRW is up 1.5% vs the USD, well above the average for Asian currencies ex-Japan of -2.1%."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- EUR/USD rebounds from daily lows, challenging 100-day SMA resistance.
- Bullish RSI raises reversal risk after reclaiming 1.1500.
- Break above 1.1629 exposes 1.1685 and 1.1700 next.
The EUR/USD pair registers gains of over 0.32% on Friday as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.
EUR/USD Price Forecast: Technical Outlook
The EUR/USD market structure suggests that the downtrend remains intact. The successive lower highs and lower lows have been respected, but since July 30, when the pair reclaimed the 1.1500 area, the risk of a bullish reversal has increased.
Although the pair topped around 1.1550-60, the Relative Strength Index (RSI) suggests bullish momentum is building. That said, EUR/USD might turn bullish if traders clear key resistance levels.
Upwards, the 200-day SMA at 1.1629 is the next area of interest. Once surpassed, the next cycle high pending is the May 29 high at 1.1685. If those two levels are removed, EUR/USD could be headed toward 1.1700, putting the April 17 high at 1.1849 into play ahead of the 1.1900 area.
On the flip side, if the shared currency drops below 1.1500, a move to the 50-day SMA at 1.1465 is on the cards. The next demand zone would be 1.1400.
EUR/USD Price Chart – Daily
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.13% | -0.36% | 1.02% | -0.54% | -0.28% | 0.07% | 0.66% | |
| EUR | 0.13% | -0.24% | 1.11% | -0.52% | -0.22% | 0.10% | 0.69% | |
| GBP | 0.36% | 0.24% | 1.29% | -0.27% | 0.02% | 0.34% | 0.92% | |
| JPY | -1.02% | -1.11% | -1.29% | -1.24% | -0.95% | -0.77% | -0.15% | |
| CAD | 0.54% | 0.52% | 0.27% | 1.24% | 0.29% | 0.47% | 1.25% | |
| AUD | 0.28% | 0.22% | -0.02% | 0.95% | -0.29% | 0.32% | 0.88% | |
| NZD | -0.07% | -0.10% | -0.34% | 0.77% | -0.47% | -0.32% | 0.57% | |
| CHF | -0.66% | -0.69% | -0.92% | 0.15% | -1.25% | -0.88% | -0.57% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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