What you need to know on Friday, August 20:
Substantial demand for safety pushed the USD higher against most major rivals, with EUR/USD and AUD/USD falling to fresh 2021 lows. The USD/CAD pair trades at its highest since January, while GBP/USD stands at fresh August lows. As the American session came to an end, the USD seems poised to extend its advance heading into the weekend.
The dollar’s advance was a continuation of Wednesday’s moves post-FOMC Minutes, as the documented hinted at soon-to-come tapering. Better than expected US employment-related figures added to the dollar’s strength.
Global indexes plunged although the dismal sentiment improved a bit during US trading hours. Wall Street moved off intraday lows, although only the Nasdaq Composite was able to post some gains.
Government bonds surged, with yields falling to fresh weekly lows. The yield of the 10-year Treasury note plunged to 1.22% recovering to 1.24% by the end of the day.
Gold prices were down amid prevalent greenback’s demand, ending the day at $1,777 a troy ounce. Crude oil prices also fell, bouncing modestly ahead of the close. WTI finished the day at $63.70 a barrel.
Cardano investors wonder whether resistance can prevent ADA from retesting $2.30
Like this article? Help us with some feedback by answering this survey:
Read More: Dollar strengthens further as investor run away from high-yielding assets