Forex Today: mixed sentiment to kick-start the week
|Here is what you need to know on Monday, September 30th:
- Risk-off dominated the weekly close, following news suggesting that the US is considering putting limits on the United States investors' portfolio flows into China and delisting Chinese companies from the US stock exchanges. suggesting that the US is considering putting limits on the United States investors' portfolio flows into China and delisting Chinese companies from the US stock exchanges.
- Brexit chaos continues, alongside headaches for UK PM Johnson. During the weekend, the UK PM further hinted he is looking to bypass the law and that he has no intentions of asking for a delay in a televised interview, saying that the UK can still leave the Union on October 31. Furthermore, news agencies reported that the PM had been formally referred for potential investigation over misconduct in public office when he was mayor of London, over allegations about a conflict of interest. News can weigh on the Pound despite a better market mood.
- Equities closed the week in the red, as political turmoil around Trump’s impeachment weighed on sentiment. Demand for safety benefited the greenback, with commodities also finishing the week in the red.
- EUR/USD trades near a fresh multi-year low. Market’s mood could keep it afloat but hardly affect the dominant bearish trend.
- Cryptocurrencies maintained the sour tone over the weekend.
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