Here is what you need to know on Thursday, September 14:
Markets remain cheerful, as Asian stocks rise after the all-important US Consumer Price Index (CPI) data cemented Federal Reserve (Fed) pause bets. The US S&P 500 futures, the risk barometer, is up nearly 0.30% on the day.
On Wednesday, the annual United States inflation gauge rose 3.7% in August, compared with a 3.6% rise expected. The CPI rose 0.6% in August, its biggest monthly gain of 2023 but matched the market consensus. The core CPI increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%.
Money markets continue to price a Fed rate hike pause next week while the probability for a November rate hike remains at about 40%, according to the CME Group’s FedWatch Tool. The dovish Fed expectations remain intact, which seem to be weighing on the US Dollar and the US Treasury bond yields in the European trading.
Within the G10 FX currency basket, the Australian Dollar is the strongest, followed by the Japanese Yen while the Canadian Dollar is the weakest heading into the European session.
AUD/USD is consolidating strong Australian jobs data-led gains at around 0.6435. The Australian economy added 64,900 jobs from the prior month, driven by part-time jobs, the Australian Bureau of Statistics (ABS) data showed Thursday. The Unemployment Rate held steady at 3.7%, as expected.
USD/CAD is on the back foot below 1.3550, despite a pause in the oil price rally. WTI is stabilizing near ten-month highs of $89.
USD/JPY is pressured toward 147.00, as the Japanese Yen draws support from comments delivered by Japan’s newly appointed Economy Minister Yoshitaka Shindo. Shindo said that he “will mobilize all possible policy measures to support the economy.” Weaker US Treasury bond yields are also adding to the weight on the major.
EUR/USD is keeping its recovery mode intact near 1.0750 in the run-up to the ECB showdown. The central bank is widely expected to leave key rates on hold later in the day. The updated economic projections and President Christine Lagarde’s speech will hold the key for hints on the ECB’s future policy path and a clear direction for the Euro. The ECB's quarterly projections will put inflation north of 3.0% in 2024, Reuters reported on Wednesday, citing sources.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.10% | -0.03% | -0.10% | -0.28% | -0.14% | -0.23% | -0.15% | |
| EUR | 0.12% | 0.08% | 0.03% | -0.18% | -0.01% | -0.13% | -0.03% | |
| GBP | 0.05% | -0.06% | -0.06% | -0.26% | -0.09% | -0.19% | -0.11% | |
| CAD | 0.10% | 0.00% | 0.08% | -0.19% | -0.04% | -0.13% | -0.05% | |
| AUD | 0.29% | 0.18% | 0.26% | 0.20% | 0.17% | 0.05% | 0.14% | |
| JPY | 0.13% | 0.05% | 0.11% | 0.04% | -0.16% | -0.08% | 0.00% | |
| NZD | 0.21% | 0.13% | 0.21% | 0.15% | -0.05% | 0.12% | 0.10% | |
| CHF | 0.16% | 0.07% | 0.11% | 0.06% | -0.14% | 0.01% | -0.08% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
GBP/USD is battling 1.2500 amid the UK economic woes and a broadly softer US Dollar. The ECB decision could have a EUR/GBP cross-driven ‘rub-off’ effect on Cable.
Gold price is wallowing in three-week lows near $1,905, with sellers awaiting a sustained break of the $1,900 threshold for further declines.
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.
Recommended content
Editors’ Picks
EUR/USD turns negative near 1.0760
The sudden bout of strength in the Greenback sponsored the resurgence of the selling pressure in the risk complex, dragging EUR/USD to the area of daily lows near 1.0760.
GBP/USD comes under pressure and challenges 1.2500
GBP/USD now rapidly loses momentum and gives away initial gains, returning to the 1.2500 region on the back of the strong comeback of the US Dollar.
Gold retreats from highs on stronger Dollar, yields
XAU/USD trims part of its initial advance in response to the jump in the Dollar's buying interest and the re-emergence of the upside pressure in US yields.
XRP tests support at $0.50 as Ripple joins alliance to work on blockchain recovery
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Week ahead – US inflation numbers to shake Fed rate cut bets
Fed rate-cut speculators rest hopes on US inflation data. After dovish BoE, pound traders turn to UK job numbers. Will a strong labor market convince the RBA to hike? More Chinese data on tap amid signs of slow Q2 start.