The US Dollar (USD) Index (DXY) dropped to multi-day lows near 102.30 as US inflation data confirmed downward trends. On August 15, a busy US calendar includes Retail Sales, Manufacturing Index, Jobless Claims, Industrial Production, Housing Market Index, and more, along with speeches from Fed officials.
EUR/USD rose to new highs around 1.1050, benefiting from USD weakness. GBP/USD faced pressure as market participants anticipate easing from the Bank of England. USD/JPY remained range-bound near 147.00, with a focus on GDP and Industrial Production data.
AUD/USD retreated from recent highs near 0.6650, with upcoming data including Consumer Inflation Expectations and jobs report. WTI prices dropped below $78.00 per barrel due to easing geopolitical tensions. Gold and Silver prices also fell as investors reevaluated the Fed’s rate outlook.
Market Analysis and Impact on Your Finances:
The continuous decline in US inflation data has put pressure on the US Dollar, leading to gains in other major currencies like the Euro and Pound. This could impact your investments, especially if you have holdings in USD-denominated assets. Additionally, falling commodity prices, including oil, gold, and silver, may affect your portfolio if you are invested in these markets. Stay informed about upcoming economic data releases and central bank speeches to make informed decisions about your finances and investments.