Forex Today: Attention shifts to US ISM, JOLTs and inflation in Europe The US Dollar has eased from recent gains as global markets look ahead to crucial US economic data and inflation reports from Europe. The US Dollar has faded part of its strong advance from Friday, even though the geopolitical landscape has appeared somewhat more strained over the past few days. Market participants have already absorbed the hawkish remarks delivered by Chair Warsh at Jackson Hole, shifting their focus toward upcoming economic releases and broader monetary policy signals. Movements in Sterling and Yen The GBP/USD pair has successfully reversed three consecutive daily pullbacks, regaining lost ground to retest the 1.3550 to 1.3560 band on Monday. A busy economic calendar across the Channel features the Nationwide Housing Prices, BRC Shop Price Inflation, final S&P Global Manufacturing PMI, mortgage approvals, and net lending figures. Meanwhile, USD/JPY has encountered fresh downside pressure, reversing a multi-day positive streak to pull back toward the 159.50 region after an early move past the critical 160.00 barrier. Japan is also set to release its final S&P Global Manufacturing PMI, capital spending data, and consumer confidence indices. Trends in Commodities and Oil WTI crude oil prices climbed to six-day highs near the $87.00 per barrel mark, driven by persistent tensions in the Middle East. While the broader oil market may seem calmer than in previous months, diesel is telling a striking story as the US diesel crack spread surged above $100 per barrel for the first time, hitting an intraday record just over $102.00. In contrast, gold has come under renewed pressure, briefly slipping below the $4,400 per troy ounce threshold before staging a tentative bounce. The precious metal remains defensive despite the softer stance of the US Dollar, Middle East uncertainties, and mixed US Treasury yields. Cryptocurrencies and Major Currencies In the digital asset space, Bitcoin remains resilient above $78,000 as market participants anticipate a renewed push toward the $80,000 milestone. Ethereum continues to exhibit a constructive technical setup by holding above $2,400, while Ripple shows early signs of recovery near $1.37. In the major currency pairs, EUR/USD pushed higher on Monday, surpassing the key 1.1600 hurdle as selling pressure on the US Dollar gathered traction while investors weighed the likelihood of a September Federal Reserve rate hike. What this means for you Ongoing fluctuations in currency and commodity markets directly impact the cost of imported goods, global investment portfolios, and foreign exchange rates. • Across India: Shifts in the US Dollar and rising crude oil prices can influence domestic fuel costs and the overall import bill. • For Investors: Volatility in gold, oil, and major currency pairs requires forex and commodity traders to adjust their risk management strategies. • Energy Consumers: Record highs in diesel crack spreads and crude prices may eventually trickle down to transportation and shipping logistics costs. • Crypto Holders: Resilience in Bitcoin and Ethereum sustains positive sentiment across digital asset markets amid broader macro shifts. • Global Markets: Anticipation surrounding upcoming US economic data and Federal Reserve policies will likely keep market volatility elevated. Questions & Answers 1. What is driving the recent movement in gold prices? Gold has faced downward pressure, briefly dropping below $4,400 per troy ounce before attempting a bounce, though rising yields continue to cap gains. 2. Which upcoming economic data points are investors focusing on? Market participants are closely awaiting US ISM data, employment figures, and upcoming European inflation reports. 3. How are oil and diesel markets performing? WTI crude reached six-day highs near $87.00 per barrel due to Middle East tensions, while the US diesel crack spread surged past $100 for the first time. 4. What is the current status of major cryptocurrencies? Bitcoin remains resilient above $78,000, Ethereum holds steady above $2,400, and Ripple shows early signs of recovery near $1.37. 5. How did the GBP/USD and EUR/USD pairs react? GBP/USD recovered to the 1.3550 region, while EUR/USD surpassed the 1.1600 hurdle amid a broader downward trend in the US Dollar. https://trendkia.com/en/market/forex-today-attention-shifts-to-us-ism-jolts-and-inflation-in-europe-25367 TrendKia — Har trend, sabse pehle.