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August 3, 2021

U.S. Dollar relatively unchanged as investors were keeping an eye on key economic data and central banks meetings this week.

100 dollar

U.S. Dollar index fell against the basket of six major currencies to end Friday’s session in the red at 94.65 after upbeat second-quarter data failed to lift the U.S. Dollar, the U.S. Dollar was relatively unchanged in today’s session as investors were keeping an eye on key economic data and central banks meetings this week.

The Federal Open Market Committee (FOMC) members are scheduled to vote on where to set the interest rate on Wednesday, the expectations shows that the committee is going to keep flat the interest rate at 2 percent.

Moreover, the United States Department of Labor is going to release its monthly non-farm payroll data that measures the change in the number of employees during the previous month excluding the farming sector expectations shows that the figure will show a 193,000 jobs created lower than the previous reading which came at 213,000.

In Eurozone, the Euro rose against the Greenback to end the session in the green at 1.1654 the Euro has fallen sharply on Thursday after the ECB President announced that the interest rate of the ECB would be on hold at 0.0 percent till October 2019.

Meanwhile, in the U.K., the Great British Pound dropped against the U.S. Dollar to end the session on negative notes at 1.3099 GBPUSD, the Sterling posted its third straight weekly loss last week as concerns regarding Brexit talks pressured the British cable. Investors will be keeping an eye on BoE interest rate decision as its widely expected to raise interest rates for the second time since the 2008 financial crisis.

In terms of safe-havens, the Greenback fell against the Japanese Yen at 110.99 USDJPY while the Swiss franc fell to close at 0.9941 USDCHF.

Regarding the precious yellow metal, XAUUSD fell slightly on today’s session to trade at 1220.95 at 5:00 GMT.

Elsewhere in Canada, the Greenback rose against the Loonie to end the session higher at 1.3068 USDCAD despite the increase in oil prices where U.S. Crude Oil rose on Friday to end the session higher at $69.02 a barrel.

In Asia, both the Aussie and Kiwi fell against their U.S. counterpart to end the session in the red at 0.7392 AUDUSD and 0.6799 NZDUSD.

Regarding Cryptos, the Bitcoin, Litecoin, and Ethereum fell slightly against the Greenback to end the session in the red 8117.01 BTCUSD, 82.01 LTCUSD, and 459.76 ETHUSD.


Ali Hwary

Ali Hwary

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