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 bounces off lows, back to 1.1860

EUR/USD now manages to regain some balance, retesting the 1.1860-1.1870 band after bottoming out near 1.1830 following the US NFP data on Wednesday. The pair, in the meantime, remains on the defensive amid fresh upside traction surrounding the US Dollar.

GBP/USD rebounds to 1.3660, USD loses momentum

GBP/USD trades with decent gains in the 1.3660 region, regaining composure following the post-NFP knee-jerk toward the 1.3600 zone on Wednesday. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold stays bid, still below $5,100

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of humble gains in the US Dollar and firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.