FX Closing Comments

The Dollar managed a few minor gains today to close-out another week of FX trading. Most gains came against the Yen and Aussie Dollar, with the other major holding their own. The September Dollar Index was up 13 ticks on the day. Looking ahead, next week has three major releases: 2nd Quarter GDP, which is expected near 3% annually; chain-weighted inflation for Q2, which is expected at 3.3%; and most importantly, non-farm payrolls on Friday, which is expected to show an increase of 125k new jobs. In terms of handicapping the Fed's next move, this is arguably the most important week ahead of their September meeting on the 20th.