The dollar index rose by +0.59% to a 2-month high on strong US economic data. July ADP employment change beat expectations at +104,000, and Q2 GDP grew +3.0%, higher than expected. Pending home sales fell in June. President Trump announced a 25% tariff on India. Fed futures suggest no rate cut at today’s meeting.

EUR/USD fell by -0.61% due to the dollar’s strength and EU-US trade tensions. Eurozone Q2 GDP beat expectations at +0.1% q/q. Economic confidence rose to a 5-month high. Swaps suggest a 13% chance of an ECB rate cut. USD/JPY is up by +0.33% after better US economic news. Yen weakens on LDP election loss expectations.

Gold and silver prices fell due to dollar strength and higher T-note yields. Precious metals face pressure from strong US economic reports and tariff concerns. Geopolitical risks offer safe-haven support. No positions in mentioned securities. Information for informational purposes only. Source: Barchart.com.

Read more at Yahoo Finance: Solid US Economic Reports Boost the Dollar