Forex Today: US Dollar rebounds as markets remain focused on Fedspeak ahead of blackout

Here is what you need to know on Friday, July 19: The US Dollar (USD) benefited from the souring market mood on Thursday, with the USD Index gaining more than 0.4% on the day and erasing its weekly losses.

Here is what you need to know on Friday, July 19: The US Dollar benefited from the souring market mood on Thursday, with the USD Index gainingmore than 0.4% on the day and erasing its weekly losses. The USD Index holds steady early Friday as investors await final comments from Federal Reserve officials before the blackout period starts on Saturday. During the American trading hours, Statistics Canada will release Retail Sales for May.

The core CPI, which excludes volatile food and energy prices, rose 2.6% in the same period, compared to the market expectation of 2.7%. Following Wednesday's steep decline, USD/JPY gained traction and closed in positive territory on Thursday. The pair fluctuate in a tight range below 157.50 in the European morning. Gold extended its downward correction and closed in negative territory for the second consecutive day on Thursday.

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