The data releases included a second-quarter GDP revision, which showed growth at 3.3% versus the 3.1% estimate and above the preliminary reading of 3.0%. While the improvement suggested resilience, markets largely treated the release as “old news”, given the data’s backward-looking nature. At the same time, initial jobless claims fell to 229K, down from 235K last week and slightly better than the 232K expected. Normally, this combination of solid GDP and labor market strength might underpin the dollar, but the FX reaction instead pointed toward shifting sentiment and broader positioning adjustments.
Late in the day White House Trade Adviser Peter Navarro announced that the global de minimis exemption will officially end on Friday, a move he said will save American lives and create thousands of US jobs. The exemption’s removal aims to restrict the flow of narcotics, counterfeit goods, and other prohibited items, while also boosting domestic employment. There will be a six-month transition period, during which postal shipments will face flat duties of $80–200 before moving to specific duty rates. Navarro noted that US Customs and Border Protection has already collected over $492 million in additional duties from China and Hong Kong since their exemptions ended.
Commodities provided a mixed picture. Crude oil inched higher by $0.17 to settle at $64.32, with prices ranging between a low of $63.35 and a high of $64.70. The gold market gained ground, supported by the weaker dollar, with spot prices up $18 or 0.53% to $3416.50. Meanwhile, Bitcoin also pushed higher, rising $760 to $112,034, reflecting the broader risk-on tone across markets as the dollar softened.
On Monday, the US will be on holiday for Labor Day. Tomorrow will be a normal day in the stock and bond markets.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about investinglive americas fx news wrap 28 aug usd continues the decline started yesterday was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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