{"id":70918,"date":"2022-08-26T04:45:25","date_gmt":"2022-08-26T00:45:25","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=70918"},"modified":"2022-08-26T04:48:28","modified_gmt":"2022-08-26T00:48:28","slug":"market-drivers-us-session-thursday-august-25","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-thursday-august-25\/08\/26\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 Thursday, August 25"},"content":{"rendered":"\n

The US dollar ended Thursday mixed although there were no significant changes among major pairs. Investors are mildly optimistic as macroeconomic data was positive upbeat but cautious ahead of central banks’ governors, set to speak within the Jackson Hole Economic Symposium.

The EUR\/USD pair briefly traded above parity but could not retain gains and stabilized around 0.9970, unchanged for a third consecutive day. GBP\/USD holds above the 1.1800 figure. The USD\/CAD pair is at around 1.2920, while the Australian dollar was the best performer vs the US dollar, now trading at around 0.6980.

Spot gold is up for a third consecutive day and currently trades at around $1,757 a troy ounce. Crude oil prices, on the other hand, gave back some ground, and WTI stands at $93.10 a barrel.

Economic Data
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Germany reported that the Q2 Gross Domestic Product rose by 1.7% YoY, better than the 1.4% previously estimated. In the quarter, it was up by 0.1%, revised from 0% previously. Also, the August IFO survey showed the Business Climate reached 88.5, better than the 86.8 expected. Expectations and the assessment of the current situation were better than anticipated.

The second estimate of the US GDP improved to -0.6% in the second quarter (Q2) versus -0.9% flash estimations and -0.8% market forecasts. Further, US Initial Jobless Claims dropped to the lowest levels in seven weeks, to 243K for the week ended on August 19 versus 253K expected and a revised down prior of 245K.

Other Developments
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The European Central Bank released the minutes of its latest meeting, which showed that a “very large number” of Governing Council members agreed that it was appropriate to raise key rates by 50 basis points while also noting that members agreed that it was “appropriate to take further steps on the path of monetary policy normalization.”

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

Powell\u2019s Jackson Hole Speech, What Can Be Expected<\/a><\/p>\n\n\n\n

USD\/CHF higher ahead of key data, Powell\u2019s speech<\/a><\/p>\n\n\n\n

RBNZ Orr: At least two rate hikes to come<\/a><\/p>\n\n\n\n

Revised US Q2 data weaken recession theory<\/a><\/p>\n\n\n\n

T-yields retreat as markets cautiously Eying Jackson Hole<\/a><\/p>\n\n\n\n

Gold climbs as traders expect hawkish Powell speech<\/a><\/p>\n\n\n\n

AUD\/USD holds gains ahead of Powell\u2019s speech<\/a><\/p>\n\n\n\n

After Parity, How Low Could EUR\/USD Go?<\/a><\/p>\n\n\n\n

Fed\u2019s Bullard: Rates aren\u2019t high enough now<\/a><\/p>\n\n\n\n

GBP\/USD fluctuates post-mixed US data<\/a><\/p>\n\n\n\n

Wall Street climbs as Fed\u2019s signals at Jackson Hole awaited<\/a><\/p>\n\n\n\n

Fed\u2019s Harker supports rate above 3.4% and then \u2018sit for a while\u2019<\/a><\/p>\n\n\n\n

Fed\u2019s Harker supports rate above 3.4% and then \u2018sit for a while\u2019<\/a>
<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The US dollar ended Thursday mixed although there were no significant changes among major pairs. Investors are mildly optimistic as macroeconomic data was positive upbeat but cautious ahead of central banks’ governors, set to speak within the Jackson Hole Economic Symposium.The EUR\/USD pair briefly traded above parity but could not retain gains and stabilized around …<\/p>\n","protected":false},"author":13,"featured_media":52669,"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":[37,36],"tags":[194,6839,9935,6858],"class_list":["post-70918","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gdp","tag-germany","tag-jackson-hole","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70918","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=70918"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70918\/revisions"}],"predecessor-version":[{"id":70927,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70918\/revisions\/70927"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52669"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=70918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=70918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=70918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}