Forex Today: long wait comes to an end

FXStreet Team FXStreet

Here is what you need to know on Thursday, September 12th:

The EUR/USD pair pierced the 1.1000 level and settled around it, weaker ahead of a largely anticipated ECB announcement. There was no apparent catalyst for EUR’s decline, although the Kiel Institute for the World Economy downgraded its forecast for German economic growth in Q3.
The Scottish High Court ruled that PM Boris Johnson´s decision to suspend the Parliament is unlawful, as"it had the purpose of stymying Parliament." PM Johnson said that there’s “no way” Theresa May's Withdrawal Agreement will be brought back.
The Hong Kong stocks exchange (HKEX) made a $36.6 billion offer for London stock exchange, which led to substantial gains in equities worldwide.
US Treasury yields surged to their highest in a month, with the benchmark yield on the 10-year note hitting 1.75%.
Crude oil prices edged sharply lower after US President Trump discussed easing sanctions on Iran with an aim to secure a meeting with Iranian President Rouhani. The news overshadowed an encouraging EIA weekly stockpiles report, which showed that inventories decreased by6.912M in the week ended September 6. *
Bitcoin seesawed within gains and losses, ended the day around 10,000.

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EUR/USD recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.