The US dollar strengthened, fueled by robust economic data and strong tech earnings from Meta and Microsoft, pushing recession fears to a new low and pressuring speculative short positions into the end of the month.
The Japanese yen plummeted past 150—dollar/yen going higher—after Bank of Japan Governor Auea’s unexpectedly dovish comments disappointed traders.
The Canadian dollar weakened as GDP contracted for a second consecutive month, compounded by trade tensions with the US over Prime Minister Carney’s stance on Palestinian statehood.
Sterling dropped for a fifth straight day ahead of an anticipated Bank of England rate cut next week, while the euro held fragile support at 1.14, with German CPI falling to a post-pandemic low of 1.8% in July.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
