Forex Today: Dollar holds firmer amid risk-off mood, as Oil falls on Mid-East risks


Here is what you need to know on Tuesday, September 17:

- Market sentiment remains sour over the threat of a military response to weekend’s Saudi attacks while poor Chinese data and pre-Fed caution also keep investors on the edge. The safe-haven bid for the US dollar keeps it buoyed against the Yen, gold and Antipodeans.

- Aussie emerges the weakest across the fx board amid dovish RBA minutes while EUR/USD clings onto recovery gains on the 1.10 handle amid US-EU tariffs threat. US may slap tariffs on the EU due to the latter's illegal subsidies of Airbus. The focus stays on the German ZEW survey.

- USD/JPY lacks follow-through amid weaker Treasury yields and Wall Street futures, having hit fresh seven-week tops at 108.36. However, uncertainty over the US-Japan trade deal caps the pair’s downside.  Japan’s Foreign Minister Motegi said that he wants to confirm in writing that the US will refrain from added tariffs on Japan auto exports. US Pres. Trump said that the US has reached an initial trade agreement with Japan, per White House.

- GBP/USD keeps the red above 1.2400 amid looming Brexit uncertainty. Following his meeting with the UK PM Johnson, Luxembourg PM Bettel reiterated that the EU won't give the UK another Brexit extension "just for the sake of another extension. Meanwhile, the UK Supreme Court will begin the three-day hearings on whether PM Johnson broke the law while proroguing the Parliament.

- Oil prices keep their corrective mode intact, down over 1%, awaiting fresh Mid-East developments and US weekly Crude Stocks data.

Key events to watch 

GMT
Event
Vol.
Actual
Consensus
Previous
Friday, Sep 13
24h
 
 
Saturday, Sep 14
24h
 
 
Tuesday, Sep 17
05:45
 
 
09:00
 
-37.0
-44.1
09:00
 
-15.0
-13.5
09:00
 
-32.2
-43.6
12:30
 
-0.2%
-1.2%
12:55
 
 
-0.4%
12:55
 
 
6.4%
13:15
 
77.6%
77.5%
13:15
 
0.2%
-0.2%
14:00
 
66
66
n/a
 
-1.7%
-0.4%
17:10
 
 
20:00
 
$9.0B
$1.7B
20:00
 
 
$32.9B
21:30
 
 
-7.2M
22:45
 
$-1.117B
$0.675B
Wednesday, Sep 18
08:30
 
2.6%
2.8%
08:30
 
0.7%
0.0%
08:30
 
1.2%
0.9%
08:30
 
0.2%
0.3%
08:30
 
1.7%
1.8%
08:30
 
0.2%
0.4%
08:30
 
-0.5%
1.3%
08:30
 
2%
2%
08:30
 
-0.2%
0.9%

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD defends 1.1000 ahead of key data, Powell’s testimony

EUR/USD off four-week lows but downside risks persist. USD/CNY’s rise amid trade uncertainty could limit the EUR bulls. The focus stays on Eurozone Industrial Production, US CPI and Powell’s testimony.

EUR/USD News

GBP/USD: Modestly changed below 21-day SMA ahead of UK CPI

While the absence of major catalysts from the UK has recently tamed the GBP/USD pair’s moves, the market’s fear ahead of the key data/events also contributes to the latest inactivity. The Cable seesaws around 1.2850 during pre-London open on Wednesday.

GBP/USD News

USD/JPY supported at 10-DMA amid risk-off, eyes US CPI, Powell

USD/JPY bounced-off the10-DMA support near 108.85 and regained the 109 handle, despite the risk-off action in the Asian equities and US equity futures amid trade deal uncertainty. The bulls seem to have found some support from higher US Treasury yields. 

USD/JPY News

Gold fails to hold on to recovery amid USD strength, trade woes

Although pessimism surrounding the US trade relations with China and the EU, coupled with Hong Kong protests, favored Gold to bounce off multi-month lows on Tue, prices are again under pressure while taking rounds to $1,458 during today’s Asian session.

Gold News

Chairman Powell before Congress: Praising the economy and rebutting the President

Federal Reserve Chairman Jerome Powell will repeat in Congress the monetary policy message he delivered after the October 30th FOMC meeting, the US economy is in a good place in the 11th year of the country’s longest expansion.

Read more

Forex MAJORS

Cryptocurrencies

Signatures