Market News

A surprise drop in US jobless claims to 206K sparked short-covering in the dollar after it hit a three-month low.

The US Treasury doubled its longer-dated bond buybacks, sending yields and the dollar lower while gold and bitcoin rallied.

The dollar drew safe-haven demand as global stocks fell for a third session and bond yields surged to multi-decade highs.

USD/JPY has climbed back to a two-week high near 159.6, giving back roughly half the gains from last month’s coordinated US-Japan intervention.

The dollar index fell to a fresh 2.25-month low as a run of soft US data continued to erode expectations for further Fed tightening.

July US retail sales unexpectedly fell 0.6%, pressuring the dollar and cutting the odds of a September Fed rate hike.

EUR/USD holds near a two-month high as US-Iran developments swing oil prices and pressure the dollar.

US producer prices rose less than expected in July, pressuring the dollar and boosting bets on a Federal Reserve rate cut.

The Dollar Index sits near the 100 level ahead of today’s US PPI report, testing a rising trendline and support near 99.42.

Gold has been rejected four times at the $4,430 to $4,480 zone, a level now acting as a well-defended near-term ceiling.