Home -
Broker -
Main body -

WikiFX Express

XM
FXTM
IC
EC markets
TMGM
SBCFX
FOREX.com
D prime
pepperstone
octa

FX analysis – USD drops, Gold pops on soft data, falling yields

GO Markets | 2023-08-25 14:23

Abstract:A raging US equity market fuelled by soft data, a drop in treasury yields and blowout earnings from NVDA (which saw its stock price hit an all-time high) saw risk-on trading through Wednesdays session.

2qred.jpg

A raging US equity market fuelled by soft data, a drop in treasury yields and blowout earnings from NVDA (which saw its stock price hit an all-time high) saw risk-on trading through Wednesdays session.

USD was choppy on Wednesday with an initial rally in DXY, which saw it briefly pierce the major resistance at 103.60, dramatically reversing course on big misses in US Manufacturing and Services PMIs which showed the US economy contracting faster than forecast. DXY hovering just above lows of 103.30 at the close after the earlier rally (driven by EUR weakness after their own PMIs disappointed) saw a high of 103.980.

image.png

AUD and NZD were among G10 outperformers, with AUD benefitting more from the risk-on sentiment outperforming the NZD to see AUDNZD hit a 10 day high of 1.0846. Rallies in iron ore and gold prices also helping the AUD. AUDUSD continued its bounce from the 0.6400 support level to highs of 0.6482, the next key level is the big figure at 0.6500 which until recently had been major support and now likely to be the next resistance level and certainly a key level to watch.

image.png

GBP was the G10 underperformer as dire PMI readings saw the Sterling Bears in charge. Services and Manufacturing figures all sharply declined, slipping into contractionary territory. GBPUSD printed a low of 1.2616 after the figures after hitting a high of 1.2717 earlier in the session. GBPUSD did bounce back to regain the key 1.2700 level in the US session though, recouping most of its losses on positive risk sentiment and the USD slide on its own weak PMI figures.

image.png

JPY outperformed with tumbling US treasury yields saw rate differentials tighten, taking the pressure off the USDJPY. USDJPY crashed below the key “intervention” level at 145 after printing an earlier high of 145.89. The Yen was also supported by a beat in Japanese PMI data. The next big data point for Yen watchers will be the Tokyo CPI figure released tomorrow, with the 145 level key to the next move in USDJPY.

image.png

Gold blasted higher in Wednesdays session, blowing through the 1902 resistance level and not finding any real selling until 1920, the high set back on 11th of August. A weak USD and more importantly catering US Treasury Yields lending a big tailwind to the precious metal.

image.png

In yesterdays economic announcements, not much in the way of tier one releases with Jackson Hole looming on Friday. US unemployment claims being the headline.

image.png
img_v2_b16b2b19-0b04-4bd6-9ba8-fbf10f93dacg.jpg
Forex Analysis

Related broker

Regulated
GO Markets
Company name:GO Markets Pty Ltd (MU)
Score
8.98
Website:https://www.gomarkets.com/en/
20+ years | Regulated in Australia | Regulated in Cyprus | Regulated in Seychelles
Score
8.98

Read more

XAU/USD Hits $4,500: Washington Bought Bonds—and Gold Exploded

Gold surged above $4,500 after the US Treasury expanded its purchases of longer-dated government bonds, pushing yields and the dollar lower. But this was not debt forgiveness or Federal Reserve money printing—it was a liquidity operation that exposed a much bigger fear: America may be finding it increasingly difficult to live with market-driven interest rates.

Original 2026-08-21 11:10

India Forex Reserves Rebound to $707 Billion: Why That Does Not Guarantee a Stronger Rupee

India forex reserves rose by $14.136 billion to $707.002 billion in the week ended 7 August 2026. This explainer separates RBI forex-reserve facts from rupee predictions, explains the role of foreign currency assets and gold, and gives forex-market readers a practical checklist before treating one headline as a trading signal.

Original 2026-08-20 21:01

Prime of Prime Forex in 2026: The Credit and Control Questions Brokers Must Answer Before Connecting

A Prime of Prime forex arrangement can help a broker access trading relationships, credit intermediation, technology connectivity, and liquidity aggregation that may otherwise be difficult to obtain directly. But the label does not prove direct bank access, executable depth, or a particular execution outcome. This 2026 guide explains what a forex Prime of Prime, PoP liquidity provider, prime brokerage forex service, and forex prime broker proposal can mean in practice; where the credit and order-routing chain must be documented; how to test pricing, limits, rejects, records, and resilience; and which commercial terms create hidden operating cost. Use the comparison framework, red-flag list, and 90-day launch plan to assess fit for your client mix and risk model. The objective is a controllable execution dependency with traceable evidence, not a marketing claim about institutional access.

Original 2026-08-17 15:39

FINEX Review: A+++ Rating Does Not Remove Risks - How to Read Spread, Withdrawals & Other Aspects

FINEX review 2026 for readers comparing an Indonesia forex broker: understand what Bappebti's A+++ rating does and does not show, then check floating spreads, withdrawals, segregated accounts and the complaint route for PT Finex Bisnis Solusi Futures.

Original 2026-08-14 18:09

WikiFX Express

XM
FXTM
IC
EC markets
TMGM
SBCFX
FOREX.com
D prime
pepperstone
octa

WikiFX Broker

pepperstone

pepperstone

Frequent Complaint
vantage

vantage

Regulated
STARTRADER

STARTRADER

Regulated
GTCFX

GTCFX

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AvaTrade

AvaTrade

Regulated
pepperstone

pepperstone

Frequent Complaint
vantage

vantage

Regulated
STARTRADER

STARTRADER

Regulated
GTCFX

GTCFX

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AvaTrade

AvaTrade

Regulated

WikiFX Broker

pepperstone

pepperstone

Frequent Complaint
vantage

vantage

Regulated
STARTRADER

STARTRADER

Regulated
GTCFX

GTCFX

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AvaTrade

AvaTrade

Regulated
pepperstone

pepperstone

Frequent Complaint
vantage

vantage

Regulated
STARTRADER

STARTRADER

Regulated
GTCFX

GTCFX

Regulated
FOREX.com

FOREX.com

Domestic Regulation
AvaTrade

AvaTrade

Regulated

Latest News

KATOPRIME Review: Unregulated and Risky, With Withdrawal Complaints to Verify

WikiFX
2026-08-19 11:00

Quotex Review: Regulation Warnings, Broker Complaints, and Blocked Funds

WikiFX
2026-08-20 15:00

DA finance chief steps aside over R4bn SARB forex probe

WikiFX
2026-08-20 15:00

Review 2026: STMARKET Regulation, MT5 Access, and Withdrawal Complaint Signals

WikiFX
2026-08-19 11:00

Why Fake Screenshots Make You Feel Like a Losing Trader

WikiFX
2026-08-19 15:00

DFSA warns of scam impersonating firm Menhir Capital

WikiFX
2026-08-19 15:00

US Dollar Sinks As Yields Drop

WikiFX
2026-08-20 15:00

Warren Bowie & Smith Review 2026: 1.23 Score Raises Red Flags as Withdrawal Complaints Grow

WikiFX
2026-08-19 22:41

Trump bemoans Fed interest rate policy, says U.S. should be paying much less

WikiFX
2026-08-20 04:32

DFSA warns of scam cloning authorised firm Menhir Capital

WikiFX
2026-08-19 15:00

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Falconxtrd

Falconxtrd

Equity Market Edge

Equity Market Edge

Vakto

Vakto

Crypto Bullhorn invest & Earn

Crypto Bullhorn invest & Earn

Deluxe Digital Market

Deluxe Digital Market

 ApexTradeAI

ApexTradeAI

TrendX

TrendX

VERTEX DIGITAL LIMITED

VERTEX DIGITAL LIMITED

CrestPoint Capital

CrestPoint Capital

MetaSmartt

MetaSmartt