Forex Today: mixed sentiment to kick-start the week

FXStreet Team FXStreet

Here is what you need to know on Monday, September 30th:

Risk-off dominated the weekly close, following news suggesting that the US is considering putting limits on the United States investors' portfolio flows into China and delisting Chinese companies from the US stock exchanges. suggesting that the US is considering putting limits on the United States investors' portfolio flows into China and delisting Chinese companies from the US stock exchanges.
Brexit chaos continues, alongside headaches for UK PM Johnson. During the weekend, the UK PM further hinted he is looking to bypass the law and that he has no intentions of asking for a delay in a televised interview, saying that the UK can still leave the Union on October 31. Furthermore, news agencies reported that the PM had been formally referred for potential investigation over misconduct in public office when he was mayor of London, over allegations about a conflict of interest. News can weigh on the Pound despite a better market mood.
Equities closed the week in the red, as political turmoil around Trump’s impeachment weighed on sentiment. Demand for safety benefited the greenback, with commodities also finishing the week in the red.
EUR/USD trades near a fresh multi-year low. Market’s mood could keep it afloat but hardly affect the dominant bearish trend.
Cryptocurrencies maintained the sour tone over the weekend.

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FXStreet Team

FXStreet

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers swiftly from weekly low, climbs back closer to $5,000 ahead of US CPI

Gold regains positive traction during the Asian session on Friday and recovers a part of the previous day's heavy losses to the $4,878-4,877 region, or the weekly low. The commodity has now moved back closer to the $5,000 psychological mark as traders keenly await the release of the US consumer inflation figures for more cues about the Federal Reserve's policy path.