Here is what you need to know on Friday, August 30: The US Dollar (USD) Index seems to have entered a consolidation phase slightly below 101.50 on Friday, after posting gains for two consecutive days.
Here is what you need to know on Friday, August 30: The US Dollar Index seems to have entered a consolidation phase slightly below 101.50 on Friday, after posting gains for two consecutive days. Eurostat will release the Harmonized Index of Consumer Prices for August in the European session. Ahead of the weekend, investors will pay close attention to the July Personal Consumption Expenditures Price Index data, the Federal Reserve's preferred gauge of inflation.
6% on a yearly basis in August, up from 2.2% in July, the data from Japan showed early Friday. The Unemployment Rate edged higher to 2.7% and Industrial Production grew by 2.8% on a monthly basis. USD/JPY largely ignored these figures and was last seen trading marginally lower on the day slightly below 145.00. Following Wednesday's sharp decline, Gold regained its traction on Thursday and rose nearly 0.7%.
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