Forex Today: Hopes for a small trade deal boosts mood, EUR/USD digests ECB whipsaw, US consumer in focus

Here is what you need to know on Friday, September 13:

  • US President Donald Trump has said that he prefers a full deal with China rather than an interim deal. Nevertheless, the idea of a US-Sino accord that would include lower tariffs is underpinning markets. US yields and USD/JPY are on the rise.
  • EUR/USD is holding up its ground above 1.1050 after a whipsaw on Thursday. The European Central Bank cut interest rates by 10 basis points and announced Quantitative Easing worth €20 billion per month from November. President Mario Draghi called governments to do more. 
  • Brexit: House of Commons Speaker John Bercow has warned prime minister Boris Johnson that ignoring the law avoiding a hard Brexit is akin to robbing a bank. In the meantime, the European Union is set to grant the UK an extension according to a leaked document – contradicting tough talk from several leaders. The Times reported that the Northern Irish DUP party may be ready to cede ground on specific regulation for the province, opening the door to a compromise. The DUP denied it.
  • The US consumer is in the limelight now, with retail sales for August and consumer sentiment for September. 
  • Cryptocurrencies have consolidated their minimal gains while gold is struggling around $1,500.

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 tension remains elevated ahead of the Fed

EUR/USD is trading around 1.1050, confined to a narrow range ahead of the all-important Fed decision. Chair Powell is set to cut rates by 25bps but signal no further stimulus is on the cards.


GBP/USD recovers within range

The GBP/USD pair is posting a modest advance after Wall Street’s opening as demand for the greenback is limited ahead of the US Federal Reserve decision. Poor UK inflation figures contain advances.


USD/JPY holds on to recovery gains above 108.00 ahead of Fed

Not only upbeat trade numbers from Japan but upbeat trade/political headlines also help the USD/JPY pair to remain firm around 108.20 prior to Wednesday’s European session. Focus on FOMC decision.


Gold: Pivots around $1500 mark, awaits FOMC policy update

Gold extended its sideways consolidative price action through the early European session on Wednesday and was seen pivoting around the key $1500 psychological mark, awaiting FOMC policy decision.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Cryptos seeing multiple launches into the universe

The Altcoin market has quickly confirmed Tuesday’s analysis with flashing rises in the last 24 hours. The two eternal aspirants to lead the crypto market – Ethereum and XRP – are rising sharply against Bitcoin and increasing its value rapidly.

Read more