Forex Today: Dollar sheds further ground amidst risk-on mood


Here is what you need to know on Friday, September 10:

The greenback enters the European trading hours slightly into the negative territory, as investors keep favouring the risk complex in the second half of the week. Traders’ shift towards the riskier assets comes after the dovish “recalibration” of the PEPP at the ECB event on Thursday, at the time when the central bank revised higher its forecasts for GDP and inflation.

In the meantime, omnipresent Delta concerns continue to hover around global growth prospects in combination with supply shortages, all against the backdrop of some auspicious results in China and US Initial Claims returning to pre-pandemic levels on Thursday.

 

EUR/USD is up smalls in the 1.1830 region as markets keep digesting the ECB gathering ahead of the opening bell in Euroland and with the focus on the final German inflation figures for the month of August and the EuroGroup meeting.

GBP/USD navigates withing a tight range in the mid-1.3800s ahead of key releases, including GDP figures, Trade Balance and Industrial/Manufacturing Production.

USD/JPY creeps higher and approaches the 110.00 barrier amidst the upbeat momentum surrounding the risk-linked galaxy and the rebound in yields of the US 10-year note from Thursday’s lows.

 

Gold prices surpasses the $1,800 mark per ounce troy following the soft note in the US dollar and the move lower in yields on Thursday.

Prices of the WTI manage to regain some composure after testing the sub-$68.00 region in response to news that China released part of its strategic reserves on Thursday.

 

Cryptos navigate a “sea of green” so far, with Bitcoin a tad below the 47,000 mark at the time of writing.

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD holds near mid-1.1600s after German IFO data

EUR/USD continues to trade in the positive territory around 1.1650 as investors don't seem to be paying much attention to the soft German IFO data. The dollar remains on the back foot but losses are limited by rising T-bond yields.

EUR/USD News

GBP/USD drops towards 1.3750 as dollar rebounds

GBP/USD is falling towards 1.3750, undermined by the US dollar bounce,  as the Treasury yields recover ground. UK's Frost hints at compromise on Northern Ireland’s post-Brexit trade rules. BOE-speak, China news in focus. 

GBP/USD News

XAU/USD looks north, with eyes on $1814 and $1820

Gold price eyes a sustained move above $1800 amid USD weakness. Market sentiment remains mixed ahead of a critical week.

Gold News

Crypto markets coil up for an explosive move

Bitcoin price correction seems to be holding above $60,000, but fear of an extended pullback persists. Ethereum price coils up between $3,900 and $4,200, preventing a retracement. Ripple price consolidates in a bullish pennant, suggesting a 26% ascent is likely.

Read more

Wall Street Week Ahead: Huge week of earnings ahead AAPL, MSFT, GOOGL, AMZN, FB

Equity markets remain elevated with more all-time highs on Thursday for the broader S&P 500 while the Dow registered new highs on Wednesday and Thursday. So far late into Friday's session, the markets are seeing some profit-taking to end a solid week.

Read more

Forex MAJORS

Cryptocurrencies

Signatures