The strong weekly US labor market report lent additional support to the Fed's talk of tightening monetary policy, although the dollar's movement was limited. Elsewhere, space for the Dollar sponsored a broad-based boost in the risk complex, while broad-based bullish preliminary PMI readings initially reinforced a rally in risk-related assets.
Here's what you need to know on Friday, February 23:
The US Dollar Index (DXY) remained lower amid the multi-session losing streak, hovering around the 104.00 area along with some recovery in US yields. At the end of the week, only the speech by C. Waller of the Fed is expected.
EUR/USD lost steam just before 1.0900, thanks to encouraging PMIs, although the dollar's late recovery forced the pair to give up those gains. On February 23, Germany will be in the spotlight with the publication of the final GDP growth rate for the fourth quarter and the business climate followed by the IFO institute.
GBP/USD traded quite volatile, although it managed to hold on to daily gains and extend the weekly bounce for the third consecutive session. Across the Channel, the GfK Consumer Confidence will not be known until February 23rd.
USD/JPY added to Wednesday's advance and rose further north of 150.00. The next event in Japan will be the publication of January inflation figures, on February 27.
In line with its risky counterparts, AUD/USD gave up its multi-session advance and gave up some gains after briefly flirting with the 0.6600 barrier. In Australia, the RBA's monthly CPI indicator will be published on February 28.
In China, the housing price index will be published on February 23. USD/CNH managed to regain some footing and post decent gains beyond 7.2000 after two consecutive daily pullbacks.
WTI prices rose to monthly highs near $79.00 per barrel amid growing geopolitical jitters and another unexpected rise in US crude oil supplies.
Gold prices partially put aside several sessions of gains and settled around the area of ​​$2,020 per troy ounce, while its premium Silver fell for the fourth consecutive day, once again touching lows around $22.70 per troy ounce. ounce.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
