Ella 
Here’s what you need to know for Thursday, August 24:
Risk flows continued to drive moves in financial markets early Thursday, with the U.S. dollar index consolidating Wednesday’s losses around 103.50. U.S. durable goods orders for July and weekly jobless claims data will give the market fresh impetus in the early U.S. session. The annual Jackson Hole Symposium will also be held later in the day. While no speeches are scheduled for Thursday, central bank officials are likely to be interviewed from the sidelines.
Disappointing PMI data from the European Union, the United Kingdom and the United States on Wednesday sent global bond yields in a different direction. The yield on the benchmark 10-year U.S. Treasury note fell 3%, dragging down the dollar. Meanwhile, Wall Street’s main indexes rallied after the midweek open, led by strong gains in technology shares. As of press time, Nasdaq futures were up more than 1% on the day, suggesting the tech rally could continue.
EUR/USD fell to around 1.0800, its weakest level in more than two months, during the European session on Wednesday, but the pair managed to bounce back later in the day amid renewed dollar weakness. The pair held steady just above 1.0850 early Thursday.
GBP/USD has come under heavy bearish pressure after the dismal PMI data, falling to around 1.2600 on Wednesday. Similar to EUR/USD, the pair erased losses later in the day. During the European morning, GBP/USD traded within a narrow channel above 1.2700.
Following Wednesday’s sharp losses, USD/JPY regained momentum and climbed above 145.00 early Thursday.
Gold benefited from a pullback in global yields, posting its biggest one-day gain in a month on Wednesday. XAU/USD held its ground Monday morning, trading in positive territory around $1,920.
Bitcoin rallied more than 1% Wednesday on the back of risk-on flows. However, BTC/USD struggled to extend the gains, trading around $26,500 during the European session. Ethereum rose nearly 3% on Wednesday, but lost traction before testing $1,700.
