The euro is showing strength in early European trade Friday, as traders took heart from Thursday’s European Central Bank meeting. Sterling rebounded after a robust bounce in activity in July, however remained close to the seven-week lows.
EUR/USD up 0.2% at 1.1836, while GBP/USD rose 0.2% to 1.2824. USD/JPY remains side-lined and confided in a tight range.
Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels.
Gold fell on Friday morning after reaching a nine-day high overnight. The continuing U.S. stock selloff and fall in the dollar boosted prices, but Asian markets were mixed and pared back the precious metal’s gains.
In an absence of data releases from the EU, the focus shifts to the US economic docket that highlights the release of the latest consumer inflation figures for August, scheduled at 12:30 GMT. The data, along with the broader market risk sentiment, could influence the USD price dynamics at the last day of the trading week.
Dollar Weakens Against Euro After ECB – US CPI in Focus
Published on 2020-09-11 08:01
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