Forex Friday: Analyzing the Dollar (DXY), EUR/USD, Gold, and USD/CAD | 09 SEP 2023

Welcome to Forex Friday, where we dive into the latest currency market trends. This week’s report highlights key aspects of the US dollar’s impressive streak, gold’s outlook, EUR/USD’s stance ahead of the ECB policy decision, and USD/CAD’s recent breakthrough. The US dollar has surged for the eighth consecutive week, supported by strong US economic data and weakness in foreign currencies. Gold faces challenges due to a weakening yuan and Eurozone export concerns. Upcoming CPI data could impact the dollar’s future direction. EUR/USD remains under pressure, with the ECB’s policy decision on the horizon. Finally, USD/CAD’s bullish momentum continues after breaking key resistance, while the focus turns to Canadian jobs figures for August.