FXStreet (Córdoba) - The US dollar has managed to reverse losses after a weak start to the session as risk aversion picks up with headlines of Russian troops entering in Ukraine hitting the wires.

The dollar is recovering ground versus most majors, with the main exception of the yen that is also benefiting amid risk aversion. The USD/JPY has printed a fresh 6-day low of 103.55.

The EUR/USD fell back to the 1.3170 area after hitting a fresh weekly high at 1.3220, while the GBP/USD dropped to 1.6565 after peaking at 1.6612 earlier on the day. Commodity currencies are pulling back from recent highs, having retraced intraday gains versus the greenback.

Elsewhere, gold rose more than 1% to $1,295 an ounce while stocks are deepening losses in Europe.

The second estimate of US Q2 GDP is the highlight today, but initial weekly jobless claims and pending home sales are both on tap.

Main Headlines in Europe:

Spain Gross Domestic Product (YoY) 1.2% in 2Q

Switzerland Employment Level (QoQ) below forecasts (4.207M) in 2Q: Actual (4.196M)

Germany Unemployment Rate s.a. meets expectations (6.7%) in August

Germany Unemployment Change above expectations (-5K) in August: Actual (1K)

European stocks pull back, focus on data

ECB’s QE closer? – Danske Bank

European Monetary Union Economic Sentiment Indicator came in at 100.6 below forecasts (101.5) in August

Gold rises for a third day

Poroshenko declares that Russian military invasion has now taken place

It’s safe haven time again as Russian invasion news filters through

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!