{"id":105269,"date":"2024-08-30T02:20:00","date_gmt":"2024-08-29T22:20:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=105269"},"modified":"2024-08-30T02:22:14","modified_gmt":"2024-08-29T22:22:14","slug":"market-drivers-us-session-august-26-2","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-august-26-2\/08\/30\/market-updates\/","title":{"rendered":"Market Drivers; US Session, August 26"},"content":{"rendered":"\n

The US Dollar continued its upward trajectory, boosted by higher interest rates and stronger-than-expected economic indicators. This surge was particularly pronounced ahead of the release of crucial Personal Consumption Expenditure (PCE) inflation data on Friday.

Economic Data:
<\/strong>
Initial jobless claims fell to 231,000 for the week ending August 25, compared to the previous week\u2019s reading of 233,000, which was below market expectations of 232,000. However, the total number of Americans claiming unemployment benefits rose to 1.868 million for the week ending August 16, compared to the previous reading of 1.855 million, which was below market expectations of 1.870 million.

The US annualized GDP for the second quarter of this year grew by 3.00%, compared to the previous reading of 2.8% and expectations that growth might remain unchanged in the second quarter compared to the previous period. This figure was a key factor supporting the US dollar, as it highlighted the strength of the US economy, which the dollar represents in the markets.

Key Economic Events for August 30:
<\/strong>
\u2022 US: PCE Inflation, Personal Income, Personal Spending, Chicago PMI, Michigan Consumer Sentiment<\/p>\n\n\n\n

\u2022 Eurozone: Advanced Inflation Rate, Unemployment Rate, ECB’s af Jochnick speech<\/p>\n\n\n\n

\u2022 Germany: Retail Sales, Labor Market Report\u2022 UK: Mortgage Approvals, Mortgage Lending<\/p>\n\n\n\n

\u2022 Japan: Unemployment Rate, Jobs\/Applications Ratio, Tokyo Inflation, Industrial Production, Retail Sales, Housing Starts<\/p>\n\n\n\n

\u2022 Australia: Housing Credit, Retail Sales<\/p>\n\n\n\n

Currency Pairs:<\/strong><\/p>\n\n\n\n

\u2022 EUR\/USD: Fell below 1.1100 support due to the stronger dollar.<\/p>\n\n\n\n

\u2022 GBP\/USD: Rebounded slightly from weekly lows.<\/p>\n\n\n\n

\u2022 USD\/JPY: Hit multi-day highs near 145.50.<\/p>\n\n\n\n

\u2022 AUD\/USD: Surpassed 0.6800 barrier, reaching new year-to-date highs.
<\/p>\n\n\n\n

Commodities<\/strong>:<\/p>\n\n\n\n

\u2022 Crude Oil: Prices rose due to supply concerns from Libya and positive US economic data.<\/p>\n\n\n\n

\u2022 Gold: Traded near all-time highs despite the stronger dollar and rising yields.<\/p>\n\n\n\n

\u2022 Silver: Partially recovered from previous day’s losses.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Also Read:<\/strong><\/p>\n\n\n\n

What Was Exactly Behind Bitcoin\u2019s Recent Sudden Dip?<\/a><\/p>\n\n\n\n

Gold Price Climbs Amid Fed Rate Cut Hopes<\/a><\/p>\n\n\n\n

US Dollar Rebounds on Positive Growth and Employment Data<\/a><\/p>\n\n\n\n

Mixed PCE Inflation Data Could Create More Market Uncertainty<\/a><\/p>\n\n\n\n

BTC Rebounds as Bulls Aim for $62,000 Ahead of Hoped PCE\u2019s Relief<\/a><\/p>\n\n\n\n

USD\/JPY recovers ahead of PCE Inflation Data<\/a><\/strong>
<\/p>\n","protected":false},"excerpt":{"rendered":"

The US Dollar continued its upward trajectory, boosted by higher interest rates and stronger-than-expected economic indicators. This surge was particularly pronounced ahead of the release of crucial Personal Consumption Expenditure (PCE) inflation data on Friday.Economic Data:Initial jobless claims fell to 231,000 for the week ending August 25, compared to the previous week\u2019s reading of 233,000, …<\/p>\n","protected":false},"author":13,"featured_media":52794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7436,6837,8949,6871],"class_list":["post-105269","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-crude-oil","tag-eurozone","tag-pce-data","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=105269"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105269\/revisions"}],"predecessor-version":[{"id":105278,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105269\/revisions\/105278"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52794"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=105269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=105269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=105269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}