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 struggles near 1.1850, with all eyes on US CPI data

EUR/USD holds losses while keeping its range near 1.1850 in European trading on Friday. A broadly cautious market environment paired with a steady US Dollar undermines the pair ahead of the critical US CPI data. Meanwhile, the Eurozone Q4 GDP second estimate has little to no impact on the Euro.

GBP/USD recovers above 1.3600, awaits US CPI for fresh impetus

GBP/USD recovers some ground above 1.3600 in the European session on Friday, though it lacks bullish conviction. The US Dollar remains supported amid a softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold remains below $5,000 as US inflation report looms

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains in the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

The weekender: When software turns the blade on itself

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Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.