Fx Volatile: Forex Market Update

5/08/2020 11:40:00 AM (GMT+6)

Dollar Index 

The US Dollar Index (DXY) dropped below the 100.00 psychological mark this Thursday after the London close. The index is down after a three-day winning streak while holding above the main SMAs on the daily time-frame.


The American dollar is losing altitude on trade optimism and pushing EUR/USD ahead of the all-important US Nonfarm Payrolls data scheduled for release at 12:30 GMT.


GBP/USD steps back from the intraday top of 1.2408 to currently around 1.2394, up 0.21% on a day, while heading into the European open on Friday. Despite the latest pullback, mainly due to the US-China trade optimism, the Cable pair remains positive while extending the BOE-led gains on the day of the UK’s holiday.


AUD/USD reverses the uptick to 0.6550, fuelled by fresh US-China trade optimism after trade representatives from both countries held a phone call. The aussie bulls weigh in Australia's PM Morrison's economy re-opening plan and RBA's SoMP.


Gold prices down 0.05% on a day, following the fresh on risks, also the US Dollar Index (DXY), during early Friday. The yellow metal struggles around the monthly top, drops off-late. US-China tensions ease following the latest trade headlines


  • CAD - Employment Change
  • CAD - Unemployment Rate
  • USD -  Average Hourly Earnings m/m
  • USD - Non-Farm Employment Change
  • USD - Unemployment Rate
Post Comments


© 2020 Trading Media. FX Volatile is a brand name of Trading Media Ltd.

This website or its third party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the cookie policy. By tapping on "I accept" you agree to the use of cookies.