Forex Today: dollar keeps taking advantage of uncertainty

FXStreet Team FXStreet

Here is what you need to know on Tuesday, October 1st:

EUR/USD fell to 1.0884, its lowest since May 2017 as the dollar retained its strength while disappointing German data weighed on the EUR.
GBP/USD also fell, settling just below the 1.2300 level as Brexit uncertainty persists. UK FM Javid said that he hopes the UK could live the EU with a deal by October 31, adding that “it is important to leave in any case,” hinting that the UK is prepared to leave without a deal.
Commodities were sharply lower daily basis, although equities posted intraday gains, as news are still positive in the trade-war front.
Market players remain cautious amid political uncertainty and ahead of first-tier events later this week.
Cryptocurrencies recovered some ground after an early slump, remain under pressure.

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FXStreet Team

FXStreet

EUR/USD holds lower ground near 1.1850 ahead of EU/ US data

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1850 in European trading on Friday. A broadly cautious market environment paired with modest US Dollar demand undermines the pair ahead of the Eurozone GDP second estimate and the critical US CPI data.

GBP/USD keeps losses around 1.3600, awaits US CPI for fresh impetus

GBP/USD holds moderate losses at around 1.3600 in the European session on Friday, though it lacks bearish conviction. The US Dollar remains supported amid softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold trims intraday gains to $5,000 as US inflation data loom

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.