Dollar Rebounds on Producer Prices Surge

USD Gains as US PPIs Rally the Most in More than a Decade

The US dollar rebounded and outperformed all the other major currencies on Thursday and during the Asian session Friday. It gained the most ground versus NZD, GBP, and AUD in that order, while it eked out the least gains versus JPY and EUR.

Nasdaq 100 — Technical Outlook

The Nasdaq 100 cash index traded higher yesterday, after it hit support at the upside support line drawn from the low of June 16th, slightly below the 14985 support zone. Although, the index has been struggling to rise to new records recently, as long as it stays above that line, we will hold a positive stance.

GBP/USD — Technical Outlook

GBP/USD fell sharply yesterday, to stop and hover near Wednesday’s low of 1.3803. Overall, the pair is now trading below the lower end of the descending triangle that contained the price action from July 28th until August 9th, and thus, we would consider the short-term picture to be bearish for now.

As for Today’s Events

The only release worth mentioning on today’s agenda is the preliminary UoM consumer sentiment index for August, which is expected to have held steady at 81.2.



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