Ella 
Here’s what you need to know on Wednesday, August 30:
The U.S. dollar held firm in early trade on Wednesday after falling sharply against other currencies on Tuesday. The European Commission is to publish data on business and consumer confidence in the euro zone. Later in the session, market participants will pay close attention to German consumer price index (CPI) data. U.S. economic data includes August ADP employment change, July merchandise trade balance and second-quarter gross domestic product (GDP) data.
The U.S. dollar index turned negative 0.5% on Tuesday after the U.S. Bureau of Labor Statistics reported that the number of job vacancies on the last working day of July fell to 8.82 million from 9.16 million in June (revised 9.58 million). Benchmark 10-year Treasury yields fell more than 2% following the report, further weighing on the dollar. The U.S. dollar index ended slightly higher in early European trade on Wednesday, just above 103.50, with the 10-year U.S. Treasury yield remaining in positive territory above 4.1%.
USD/NZD is the strongest today.
Data during the Asian session in Australia showed that CPI rose at an annual rate of 4.9% in July, significantly lower than the 5.4% increase in June and below market expectations of 5.2%. Following Tuesday’s big gains, AUD/USD lost traction on weak inflation data. At press time, the pair was down 0.3% on the day at 0.6460.
Bank of Japan (BoJ) board member Naoki Tamura said earlier on Wednesday that the timing of exiting easing policy cannot be “too late, but not too early” while avoiding comment on the currency. The pair maintained a positive zone around 146.50 during the European session.
EUR/USD rose more than 50 pips on Tuesday but lost bullish momentum before testing 1.0900. The pair is currently consolidating its weekly gains just above the 1.0850 level.
GBP/USD ended positive for a second day in a row on Tuesday, benefiting from a weaker dollar and improved risk sentiment. The pair held steady above 1.2600 midweek.
Gold prices rose sharply on Tuesday, touching their highest in three weeks near $1,940 an ounce. XAU/USD edged lower on the day to end the day near $1,935 as 10-year U.S. yields erased some of their weekly gains on Wednesday.
Bitcoin built bullish momentum, climbing above $27,000 on Tuesday before entering a consolidation phase around $27,500. Ethereum rose nearly 5 percent on Tuesday, holding steady above $1,700.
Incident Grayscale wins lawsuit against US SEC, bitcoin price close to $28,000.
