Forex Today: Mood improved, but not that much

FXStreet Team FXStreet

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

Market players were optimistic but cautious. The positive mood was clearer in the US session, as Wall Street managed to end the day with gains, after two weeks of falls. Speculative interest, however, awaits for the US Federal Reserve decision later this week.

The dollar edged lower against all of its major rivals, included the battered GBP, but the greenback ended the day off its daily lows, finding some buyers in the last trading session of the day.

The EUR/USD pair flirted with 1.1900 but remained below the level. GBP/USD hovers around 1.2860, roughly 100 pips higher after last week’s collapse.

The Japanese yen appreciated as well as gold, in spite of flat government bond yields and higher equities.

Gold prices are up for the day, but gains are modest. Crude oil prices, on the other hand, remained depressed as the OPEC cut its forecast for oil demand this year and ht next, warning that risks remain “elevated and skewed to the downside” for the first half of 2021.

The UK Parliament discussed the Internal Market Bill, and UK PM Johnson defended it, saying that it will give the kingdom a “more real possibility” of a trade deal with the EU. However, former UK PMs David Cameron and Theresa May have warned about the Internal Market Bill saying it could damage UK’s international reputation.

Trials of the AstraZeneca/Oxford vaccine remain paused in the US, as local authorities investigate the UK case. The WHO warned that the worse is yet to come in October and November for Europe.

The RBA will publish the Minutes of its latest meeting during the upcoming Asian session, while China will publish August Industrial Production and Retail Sales for the same month.

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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