Forex Today: US Dollar selloff pauses ahead of confidence data – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
The US Dollar continued to weaken against its rivals throughout Thursday and in the Asian on Friday. After having touched its weakest level in 15 months at 99.57, however, the US Dollar Index started to recover toward 100.00. Import/Exportdata will be featured in the US economic docket alongside the University of Michigan's Consumer Sentiment Index. During the European trading hours, Eurostat will release Trade Balance data for May.
Earlier in the day, Australian Prime Minister Anthony Albanese and Treasurer Jim Chalmers called an emergency press conference to announce that Michele Bullock will be appointed as the Governor of the Reserve Bank of Australia when Philip Lowe's term expires in September. This development had little to no impact onclimbed to its highest level in 16 months near 1.1250 in the Asian session on Friday before retreating to the 1.1200 area. The pair is up more than 200 pips this week.
price struggled to capitalize on the broad USD weakness and registered small gains on Thursday. XAU/USD stays on the back foot early Friday and retreats toward $1,950. Following this week's sharp decline, the 10-year US Treasury bond yield is up nearly 1% on the day near 3.8% in the European morning, making it difficult for the pair to hold its ground.rose above $31,000 on Thursday. BTC/USD stays relatively quiet at around $31,300 early Friday.
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