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Hello everyone, today XM Forex will bring you "[XM Official Website]: Jackson Hall Seminar opens today! The US dollar rose slightly." Hope it will be helpful to you! The original content is as follows:
During the European session on Thursday, August 21, the dollar remained flexible against other currencies as investors were preparing for key activity data in major economies. During the European period, the initial value of the PMI in the Manufacturing and Services Industry (PMI) in Germany, the Eurozone and the UK will be closely watched by market participants. Later in the day, the U.S. Economic Calendar will provide weekly initial jobless claims, July existing home sales data and the same Purchasing Managers index data.
Minutes of the Federal Reserve's July policy meeting showed on Wednesday that almost all participants believed it was appropriate to keep policy interest rates unchanged. According to the publication, participants noted that it would take time to gain a clearer understanding of the extent and durability of higher tariffs on inflation.
The U.S. dollar index closed slightly lower on Wednesday and began to rise earlier on Thursday. As of press time, the index rose 0.2% on the day to close to 98.40. Meanwhile, U.S. President Donald Trump called on Fed Director Lisa Cook to resign after Bloomberg reported that the Federal Housing and Finance Director was urging Attorney General Pam Bundy to investigate Cook on two mortgage loans. U.S. stock indexes remained basically unchanged in early trading on Thursday after Wall Street rose and fell on Wednesday.
Asian period, Australian data showed that S&P Global lwcgm.cnprehensive PMI improved from 53.8 in July to 54.9 in early August, indicating that private sector business activities continue to accelerate expansion. The Australian dollar/dollar remained under bearish pressure after falling about 0.3% on Wednesday, trading at its lowest level since late June around 0.6420.
In Japan, JibunBank manufacturing PMI rose slightly toAt 49.9 in August, JibunBank's service industry PMI fell from 53.6 to 52.7. The USD/JPY held its ground during the European session on Thursday and rose modestly above 147.50.
The GBP/USD failed to benefit from the UK inflation data and closed in the negative territory for the third consecutive day on Wednesday. The pair continued to move lower earlier on Thursday, trading below 1.3450.
Euro/USD remained unfavorable in early European trading after two consecutive days of closing flat, trading below 1.1650.
Hold its quotation tone in the first half of the European session on Thursday, but lacked a follow-up sell-off amid mixed circumstances, trading below $3,340 earlier on Thursday.
Euro: Euro/USD continues to consolidate sideways, and intraday bias remains neutral. As long as the 1.1589 support level is held, it is expected to rebound further. Above 1.1729, the 1.1829 high will be retested. However, on the downward side, a firm breakthrough of 1.1589 will turn downward and fall again, continuing the correction pattern of 1.1829.
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