Discover the latest insights into the financial markets for Friday, August 16, and how they can impact your investments and finances.
The US Dollar experienced a turbulent day, fluctuating between gains and losses across the FX board. Positive US data alleviated concerns about a potential recession, with strong employment figures and upbeat Retail Sales contributing to a more optimistic outlook. While other economic indicators were mixed, they were not significant enough to change the odds of a September interest rate cut.
Stocks capitalized on this positive sentiment, with Wall Street reaching new weekly highs and the major indexes closing with substantial gains.
In currency markets, the Euro slipped below the 1.1000 level against the US Dollar, settling around 1.0970. Meanwhile, GBP/USD held steady at approximately 1.2860 as the British Pound found support from favorable local data. The UK’s Q2 GDP growth matched expectations at 0.6%, and Manufacturing Production exceeded forecasts with a 1.1% increase in June.
Safe-haven currencies like the CHF and JPY weakened against the US Dollar, while commodity-linked currencies such as the AUD and CAD remained stable despite USD strength, thanks to the stock market rally.
Gold prices recovered above $1,450 as the trading day closed in the US.
Looking ahead to Friday, major central bank Governors are scheduled to deliver speeches, including the RBA’s Michele Bullock and the RBNZ’s Adrian Orr. The UK will release July Retail Sales data, while the US will publish the preliminary estimate of the August Michigan Consumer Sentiment Index and Consumer Inflation Expectations for the same month.
Stay informed about the latest market trends and potential investment opportunities by following the updates on Friday’s economic events.
US Dollar Price Today
Check out the percentage changes of the US Dollar against major currencies in today’s trading. The US Dollar showed strength against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.31% | -0.26% | 1.13% | 0.07% | -0.21% | 0.25% | 0.71% | |
| EUR | -0.31% | -0.58% | 0.80% | -0.25% | -0.61% | -0.23% | 0.40% | |
| GBP | 0.26% | 0.58% | 1.40% | 0.34% | -0.03% | 0.36% | 1.08% | |
| JPY | -1.13% | -0.80% | -1.40% | -1.07% | -1.35% | -1.02% | -0.32% | |
| CAD | -0.07% | 0.25% | -0.34% | 1.07% | -0.28% | 0.02% | 0.74% | |
| AUD | 0.21% | 0.61% | 0.03% | 1.35% | 0.28% | 0.37% | 1.09% | |
| NZD | -0.25% | 0.23% | -0.36% | 1.02% | -0.02% | -0.37% | 0.72% | |
| CHF | -0.71% | -0.40% | -1.08% | 0.32% | -0.74% | -1.09% | -0.72% |
Understand how these changes can impact your financial decisions and stay ahead of the market trends by following the latest updates and analysis.