Forex Today: Markets quiet down ahead of mid-tier US data

Here is what you need to know on Thursday, September 15:

Following Wednesday's choppy action, markets stay relatively quiet on Thursday. The US Dollar Index holds in positive territory but stays below 110.00, the US stock index futures trade flat and the 10-year US Treasury bond yield moves sideways above 3.4%. In the second half of the day, August Retail Sales data will be featured in the US economic docket alongside the weekly Initial Jobless Claims, NY Empire State Manufacturing Survey and Philadelphia Fed Manufacturing Survey. Finally, the Fed will publish August's Industrial Production and Capacity Utilization figures.

US Retail Sales Preview: Can consumers keep up with inflation? A breather could weigh on the dollar.

During the Asian trading hours, China’s State Council announced that the People’s Bank of China (PBOC) will provide more than 200 billion yuan ($28.7 billion) in special lending funds to commercial banks to boost loans to companies. Furthermore, Reuters reported that China's largest four state-owned banks cut deposit rates, effective Thursday. Despite these developments, Shanghai Composite Index ended up closing the day in negative territory.

Earlier in the day, the data from Australia revealed that the Unemployment Rate edged higher to 3.5% in August from 3.4%. The participation rate improved to 66.6% from 66.4% and the Employment Change arrived at +33.5K, slightly below the market expectation of 35K. Following a mixed immediate reaction, AUD/USD started to stretch higher and was last seen rising 0.15% on the day at around 0.6750.

Statistics New Zealand reported the Gross Domestic Product (GDP) expanded at an annualized rate of 0.4% in the second quarter, surpassing analysts' forecast for a growth of 0.2%. Despite the upbeat GDP data NZD/USD struggles to gather momentum and trades in a relatively tight range near 0.6000.

EUR/USD continues to trade below parity on Thursday. The trade deficit in the euro area is expected to widen to €35.5 billion in July from €30.8 billion in June.

GBP/USD managed to register modest gains on Wednesday and seems to have stabilized above 1.15000 early Thursday.

USD/JPY fell sharply on Wednesday amid speculations that the Bank of Japan might be preparing to intervene in foreign exchange markets. The pair gained traction during the Asian trading hours and was last seen trading modestly higher on the day at around 143.50. 

Gold broke below $1,700 during the Asian trading hours and failed to reclaim that level. With European traders entering the markets, XAU/USD extended its slide toward $1,680.

Bitcoin continues to move sideways slightly above $20,000. Ethereum holds steady near $1,600 after having gained more than 4% on Wednesday.

BREAKING: Ethereum Merge begins, the good, bad and ugly of crypto’s $22 billion bet.

Share: Feed news

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

Recommended content

Editors’ Picks

EUR/USD clings to daily gains above 1.0650

EUR/USD clings to daily gains above 1.0650

EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.


GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.


Gold holds steady at around $2,380 following earlier spike

Gold holds steady at around $2,380 following earlier spike

Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.

Gold News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price shows no signs of directional bias while it holds above  $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research. 

Read more

Week ahead – US GDP and BoJ decision on top of next week’s agenda

Week ahead – US GDP and BoJ decision on top of next week’s agenda

US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.

Read more