Forex Today: risk aversion and data favored the greenback
|Here is what you need to know on Tuesday, September 24th:
- EUR/USD extended its decline to 1.0977 on the back of a steeper contraction in manufacturing activity, according to Markit. It settled just below the 1.1000 figure, retaining a sour tone heading into Tuesday’s opening.
- GBP/USD settled near a daily low of 1.2412, as no progress was reported around the Irish backstop issue. UK PM Johnson down-talked chances of reaching a deal in an upcoming summit with EU counterparts this week.
- Safe-haven gold extended its advance amid uncertainty surrounding US-China trade talks. Japanese yen was unable to sustain early gains, closed the day unchanged against the dollar.
- US Markit Markit PMI and Composite PMI beat expectations, offsetting the dismal mood and helping Wall Street to close in the green. The Services index mixed the market’s expectations but remained in expansion territory.
- US Treasury yields ended the day little changed, after falling to fresh lows in pre-opening trading.
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