Eye on ECB Policy Announcements and Fedspeak

Image Credit: Google 20/07/2024

Forex markets remained volatile in the early European session on Friday after Thursday's surge.

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The European Central Bank will announce monetary policy decisions and its President Christine Lagarde will hold a press conference after the meeting.

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The US dollar (USD) again saw selling pressure after the Fed policymakers' dovish comments.

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The US dollar index fell by about 0.5% and hit its lowest daily close since late March on Wednesday.

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18 July, on Thursday morning, the index remained in place and fluctuated in a narrow channel above 103.50.

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Meanwhile, data from Australia showed the unemployment rate rose to 4.1% in June from 4% in May.

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Employment change stood at +50.2K over the same period, while full-time employment increased by 43300.

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AUD/USD gained slightly after the labor market data and was seen trading positive around 0.6740.

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USD/JPY fell more than 1% on Wednesday and gold gained on Thursday (above $2,380) only to close with losses the next day.

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France issues warning list of 50 forex and crypto firms

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