The dovish comments from the Federal Reserve sent the dollar lower. The greenback is now losing ground or flat against all other major currencies.
Today, we have the US consumer inflation data which will show if the underlying price trends are in line with the Fed’s 2% inflation mark.
The euro is up 0.17% as investors feel the eurozone’s recovery is robust and that a rate hike is brewing.
Possible bearish movements as the RSI curve approaches the 70 mark.
The yen weakened, erasing some of the gains made earlier in the week and making it the worst-performing major Asian currency on Friday.
Possible bearish movements supported by a downward sloping Moving Average.
As earnings season kicks-off, traders will finally know if all the hype has substance. The recent rally has been the fruit of optimism over rising corporate earnings thanks to an improving economic environment.
Major US banks take centre stage as Wells Fargo, JPMorgan and Citigroup are due to announce earnings for the second quarter of 2017.
Crude prices pared gains overnight after a rally late on Thursday. Brent and crude oil shed 0.2 % after closing 1.4% higher on Thursday.
Oil markets dipped, thanks to high fuel inventories and improving efficiency in the market.
Possible bullish movements as the RSI moves towards 30
Gold is up 0.11% as the weaker dollar gives this precious metal a boost.