The Greenback extended its march north, helped by higher yields and firmer-than-expected results from GDP figures and weekly data of the labour market, all ahead of the publication of key PCE readings on Friday.
Here is what you need to know on Friday, August 30: The US Dollar Index remained firm and extended its breakout of the key 101.00 barrier amidstrising US yields across the board. The release of inflation figures tracked by the PCE takes centre stage on August 30, seconded by Personal Income, Personal Spending, the Chicago PMI, and the final Michigan Consumer Sentiment print. EUR/USD suffered the Dollar’s rebound and broke below the 1.1100 support to reach multi-day lows.
USD/JPY rose for the second day in a row, reaching multi-day highs near 145.50 on the back of the strong dollar and higher yields. Busy calendar in Japan on August 30 will release the Unemployment Rate, along with the Jobs/Applications Ratio and Tokyo inflation data. In addition, preliminary Industrial Production is also due, seconded by Retail Sales and Housing Starts. AUD/USD resumed its robust rally and surpassed once again the key 0.
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