Forex Today: It's PMI-day!

The US Dollar (USD) ended another indecisive session trading near the top of its weekly range, as investors weighed the FOMC Minutes against fresh attacks from President Trump on the Federal Reserve, this time directed at Governor Lisa Cook.

Here's what to watch on Thursday, August 21:

The US Dollar Index (DXY) could not sustain an earlier move to multi-day highs near 98.50, eventually ending the day with marginal losses near 98.20. The usual weekly Initial Jobless Claims are due, seconded by the Philly Fed Manufacturing Index, Existing Home Sales, the CB Leading Index, and the preliminary S&P Global Manufacturing and Services PMIs. In addition, the Fed's Bostic is due to speak.

EUR/USD clocked marginal gains after two daily retracements in a row, although still far from the 1.1700 zone. The advanced HCOB Manufacturing and Services PMIs will be released in Germany and the euro area, followed by the flash Consumer Confidence gauge by the European Commission and Construction Output prints in the euro zone.

GBP/USD dropped for the third day in a row and clinched new multi-day lows near 1.3450. The flash S&P Global Manufacturing and Services PMIs are expected, ahead of the CBI Industrial Trends Orders, and Public Sector Net Borrowing figures.

USD/JPY maintained its broader consolidative theme in place, this time building on Tuesday's losses and flirting with three-day troughs near the 147.00 support. The preliminary S&P Global Manufacturing and Services PMIs are due, alongside weekly Foreign Bond Investment readings.

AUD/USD deepened its weekly leg lower, coming closer to the monthly low near the 0.6420 zone. The Melbourne Institute will release its Inflation Expectations, prior to the advanced S&P Global Manufacturing and Services PMIs.

Crude oil prices managed to regain some traction and set aside three consecutive days of losses, approaching the $63.00 mark per barrel of WTI as traders continued to look at the geopolitical landscape and assessed the larger-than-expected US drop of crude oil supplies.

Gold prices rose to two-day tops and approached the key $3,350 mark per troy ounce amid investors' expectations ahead of the Jackson Hole Symposium. Silver prices followed suit, bouncing off multi-day troughs around the $37.00 mark per ounce.