Forex Today: Brexit to keep stealing the show
|Here is what you need to know on Monday, September 14:
The greenback remained weak on Friday but moved off its daily lows following the release of US August inflation figures, which were upbeat. Core CPI in the country ticked higher to 1.7% from 1.6%.
Oxford and AstraZeneca announced they will resume trials of their coronavirus vaccine after pausing them over a week ago, amid possible side effects in one UK participant on the trials. The news may bring some optimism at the weekly opening.
Most major pairs closed the week unchanged, in line with the high levels of uncertainty reported by central bankers. The Sterling Pound was the exception, as it collapsed on Brexit chaos, ending the week at levels last seen in July against the dollar.
Brexit talks last week ended without progress, with differences in important areas still unresolved. Concerns were fueled by the EU’s threat to proceed with legal actions if the UK changes the Withdrawal Agreement. The UK Parliament will discuss this Monday the polemic Internal Market Bill.
Commodities closed the week with modest losses. Gold settled at $1,940 a troy ounce, while WTI finished at $37 a barrel.
US indexes were unable to hold on to gains on Friday, with major indexes closing a second consecutive week in the red.
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