The dollar index fell by -0.02% on Friday due to weaker-than-expected economic reports and dovish Fed comments. US consumer spending rose in July, supporting the dollar, while inflation pressures increased. Concerns about Fed independence and capital flight are negative for the dollar.

EUR/USD rose by +0.11% on Friday after ECB’s July CPI expectations and strong German CPI report. The euro initially fell due to a stronger dollar and worries about Eurozone consumer spending. German unemployment fell unexpectedly, but retail sales declined sharply.

Diplomatic efforts to end the war in Ukraine are ongoing, with calls for sanctions on Russia. The outcome could impact tariffs and oil prices. ECB rate cut expectations are low.

USD/JPY rose by +0.07% on Friday due to weak Japanese economic reports and softened price pressures. Consumer confidence and labor market strength supported the yen.

Gold and silver prices surged on Friday due to sticky global inflation pressures, concerns about Fed independence, and political uncertainty. Safe-haven demand is up amid geopolitical risks. ETF buying supports precious metal prices.

Read more at Yahoo Finance: Dollar Finishes Slightly Lower on Mixed US Economic Reports