8.29.2022 FxGecko Forex News
2022-08-29 10:10:55
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1.Forex:

The USD index rose to 108.78, up 0.30 percent on the day, after hitting an earlier low of 107.54. The index retreated from a five-week high of 109.27 touched last Tuesday and remained below the 20-year high of 109.29 touched on July 14.

EUR fell 0.07 percent to 0.9963, rebounding from a 20-year low of $0.99005 touched on Tuesday.

USD rose 0.66 percent against JPY to 137.39.

2.Gold: Gold prices fell more than 1% on Friday after Federal Reserve Chairman Jerome Powell said in a speech at Jackson Hole that the U.S. economy needs tighter monetary policy until inflation is under control.

3.Crude oil: Oil prices closed higher on Friday, helped by signals from Saudi Arabia that the Organization of the Petroleum Exporting Countries (OPEC) may cut production, but trading was choppy.

4.Stocks: All three major U.S. stock indexes plunged more than 3% on Friday after Federal Reserve Chairman Jerome Powell signaled that the Fed will continue to raise interest rates to curb inflation.

Market News:

1.Most issues in the negotiations on resuming compliance with the comprehensive Iran nuclear deal have been resolved

2.Oil and gas exports increase Qatar's total exports in July rose 61.9% year-on-year

3.Iran and Russia signed 12 memorandums of understanding in the field of automobile manufacturing

4.Medvedev raises his gas price forecast to 5,000 euros by the end of the year

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