fxs_header_sponsor_anchor

News

Forex Today: Risk tone improves on trade progress, focus shifts to ECB

Here is what you need to know on Wednesday, September 11:

- Market mood improves on fresh US-China trade optimism after Global Times editor reported China will introduce important measures to ease the negative impact of the trade war. Meanwhile, China released tariffs exemption list for products from the US.

- The US yields extend gains alongside Asian equities and Wall Street futures while and dollar eases against the euro and risk/ commodity currencies. The Yen remains the main laggard at six-week lows near 107.85 vs. the buck on trade progress and dovish BOJ expectations.  

- EUR/USD clings to minor gains around 1.1050 amid the recent rally in German bund yields, awaiting Thursday’s ECB monetary policy outcome. The German stimulus talks pushed 30-year bund yields into positive territory.

- GBP/USD trades above 1.2350 ahead of an empty UK docket and bi-weekly EU-UK Brexit negotiations. UK Parliament passed a law to block a no-deal Brexit. UK MPs launched a new group to try to secure Brexit deal. PM Johnson said that he is opposed to the idea of a so-called Northern Ireland-only backstop to get a Brexit deal done.

- Oil prices jump on large US crude inventory draw, reversing the drop fueled by speculation of sanctions-hit Iranian crude returning to the market after US President Trump’s fired Iran-policy hawk, Bolton. Meanwhile, Gold holds the lower ground sub-$ 1500.

- Cryptocurrencies return to the red, with Bitcoin battling 10k level.

Key events ahead

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.