Here is what you need to know on Tuesday, August 29:
Trading action remains subdued early Tuesday and major currency pairs continue to fluctuate in familiar ranges. June Housing Price Index will be the first data releases of the day from the US. Later in the American session, the US Bureau of Labor Statistics' JOLTS Job Openings data for July and the Conference Board's Consumer Confidence Index for August will be watched closely by market participants.
The positive shift seen in risk sentiment made it difficult for the US Dollar to gather strength in the second half of the day on Monday and the USD Index (DXY) closed in negative territory. In the European morning on Tuesday, DXY holds steady at around 104.00. Wall Street's main indexes gained more than 0.5% on Monday and US stock index futures were last seen posting small daily gains. Meanwhile, the 10-year US Treasury bond yield stays on the back foot below 4.2% after falling nearly 1% on Monday.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.02% | -0.12% | -0.05% | -0.31% | -0.05% | -0.45% | 0.02% | |
| EUR | -0.01% | -0.14% | -0.07% | -0.33% | -0.08% | -0.45% | 0.02% | |
| GBP | 0.13% | 0.14% | 0.08% | -0.21% | 0.07% | -0.32% | 0.14% | |
| CAD | 0.06% | 0.05% | -0.08% | -0.27% | 0.00% | -0.40% | 0.06% | |
| AUD | 0.34% | 0.36% | 0.23% | 0.28% | 0.27% | -0.09% | 0.35% | |
| JPY | 0.06% | 0.03% | -0.09% | -0.01% | -0.28% | -0.39% | 0.06% | |
| NZD | 0.40% | 0.41% | 0.32% | 0.36% | 0.13% | 0.36% | 0.43% | |
| CHF | -0.01% | -0.01% | -0.13% | -0.08% | -0.33% | -0.06% | -0.42% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
During the Asian trading hours, the data from Japan revealed that the Unemployment Rate edged higher to 2.7% in July from 2.5% in June. In the meantime, "Japan has seen price and wage rises broaden since the spring of 2022,” the Japanese government said in its annual economic white paper. “Such changes suggest the economy is reaching a turning point in its 25-year battle with deflation," the publication further read. USD/JPY showed no reaction to these comments and extended its sideways grind around 146.50.
EUR/USD registered small gains on Monday and continued to edge higher early Tuesday. The pair, however, seems to be struggling to gather bullish momentum while trading below 1.0850.
GBP/USD gained traction in the European session and advanced toward 1.2650. Following the long weekend, the UK's FTSE 100 Index opened more than 1% higher on Tuesday, pointing to an improving risk mood.
AUD/USD preserved its recovery momentum following Monday's advanced and climbed above 0.6450. Supported by the risk-positive market atmosphere, NZD/USD rose toward 0.5950 following Monday's choppy action.
Gold price closed modestly higher on Monday and continued to push higher amid retreating US yields early Tuesday. At the time of press, XAU/USD was trading in the green near $1,925.
Bitcoin and Ethereum both remain directionless early this week, moving sideways in tight ranges near $26,000 and $1,650, respectively.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stabilizes near 1.0500, looks to post weekly losses
EUR/USD extended its daily decline toward 1.0500 in the second half of the American session, pressured by the souring market mood. Despite the bullish action seen earlier in the week, the pair remains on track to register weekly losses.
GBP/USD falls below 1.2150 as USD rebounds
Following an earlier recovery attempt, GBP/USD turned south and declined below 1.2100 in the second half of the day on Friday. The negative shift seen in risk mood amid rising geopolitical tensions helps the US Dollar outperform its rivals and hurts the pair.
Gold advances to fresh multi-week highs above $1,920
Gold extended its daily rally and climbed above $1,920 for the first time in over two weeks on Friday. Escalating geopolitical tensions ahead of the weekend weigh on T-bond yields and provide a boost to XAU/USD, which remains on track to gain nearly 5% this week.
Bitcoin could be an alternative to US-listed companies but not in the short term
Bitcoin has dipped below $27,000, adding to the subdued cryptocurrency market sentiment. While short-term price concerns persist, analysts predict a rebound based on historical figures.
Nvidia Stock Forecast: NVDA slips as Biden administration attempts to close AI chip loophole
Nvida's stock price opened marginally lower on Friday after Reuters reported that the Biden administration is attempting to close a loophole that allowed Chinese companies access to state-of-the-art computer chips used for AI.