# Forex Major Currencies Outlook (Aug 24, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-24-2017/ Language: en Updated: 2017-08-24 Description: Explore Forex Major Currencies Outlook (Aug 24, 2017). USD The. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The dollar gave up some ground on speculations of a government shutdown as Trump threatened to trigger one unless he gets the funds to build the wall along the Mexican border. There have also been whispers of conflict among lawmakers that refuse to support this agenda but Senate majority leader McConnell assured that their team is working closely with the President. Data turned out mixed, with the manufacturing PMI posting a surprise dip in activity and the services component surprising to the upside. New home sales disappointed due to rising prices making homes less affordable to potential buyers. The attention turns to the start of the Jackson Hole Symposium next and Yellen’s speech. **EUR** The euro dipped after Draghi’s testimony barely contained any strong hints on monetary policy moves but the shared currency soon recovered on expectations of taper-related remarks in his upcoming Jackson Hole Speech. Euro zone PMI readings were mostly stronger than expected while consumer confidence held steady at -2. **GBP** The pound had a mixed run as it reacted mostly to its counterparts instead of establishing its own direction. There were no major reports out of the UK economy in previous trading sessions and traders are turning to the second GDP estimate next. Analysts are expecting to see another 0.3% expansion but project that business investment would slow to 0.2% from the earlier 0.6% gain. **CHF** The franc was able to benefit from a continuation of risk-off and anti-dollar moves stemming from threats of a government shutdown from Trump. There were no reports out of the Swiss economy recently and none are due today so the franc could take its cue from euro action and Draghi’s remarks. **JPY** The yen took advantage of dollar weakness stemming from government shutdown concerns and persistent risks from North Korea. Japan’s flash manufacturing PMI was stronger than expected at 52.8 versus the consensus at 52.3 and the earlier 52.1 figure. There are no reports due from Japan today, leaving traders to price in their expectations for the CPI data due on Friday. **Commodity Currencies (AUD, NZD, CAD)** The Kiwi was the weakest of the bunch as it got bogged down by GDP downgrades in the Treasury’s pre-election fiscal update. Meanwhile, the Loonie stayed supported after crude oil advanced on the EIA report, which indicated that stockpiles fell by 3.3 million barrels as expected. New Zealand’s trade balance is due next and a smaller deficit of 200 million NZD from the earlier 242 million NZD shortfall is eyed. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-24-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-24-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-24-2017/", "headline": "Forex Major Currencies Outlook (Aug 24, 2017)", "inLanguage": "en", "datePublished": "2017-08-24T07:20:10+00:00", "dateModified": "2017-08-24T07:20:10+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Aug 24, 2017). USD The. 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