• The US Dollar is back in the red after eking out gains earlier in the week. 
• The technical picture raises a worrying sign for the coming weeks. 
• The US Dollar index closed above a key level on Thursday. 

The US Dollar (USD) starts on the back foot again on Friday, as it almost did nearly every trading day this week. As such, there is no issue, seeing that the US Dollar Index has been able to print three consecutive days of gains. The effect of the lower-than-expected Initial Jobless Claims print from Thursday is quickly fading, and with an empty calendar ahead, it could be a day of more outflow for the US Dollar ahead of the weekend. 

On the economic data front, there is an empty calendar ahead with no data points that will move markets or the US Dollar. This means that either headlines or geopolitical events will drive markets to close the week. The weekly close for the US Dollar will be vital ahead of next week when the US Consumer Price Index (CPI) and the US Retail Sales data for July are on the docket.