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 holds steady above 1.1850 in quiet session

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day holiday.

GBP/USD flat lines near 1.3650 ahead of UK and US data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.3650 on Monday. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important data releases from the UK and the US.

Gold corrects lower, tries to stabilize above $5,000

Gold started the week under bearish pressure and declined to the $4,960 area before staging a modest rebound. As trading volumes remain thin with the US financial markets remaining closed on Presidents' Day holiday, XAU/USD looks to stabilize above $5,000 ahead of this week's key data releases.

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.