Forex Today: Brexit to keep stealing the show

FXStreet Team FXStreet

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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FXStreet

EUR/USD flirts with daily highs, retargets 1.1900

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GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

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Ripple Price Forecast: XRP potential bottom could be in sight

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