Forex Today: sees risk-recovery in Asia, UK earnings in spotlight


Forex today witnessed a recovery in risk appetite, despite looming US-China trade concerns, as the renewed optimism on the Brexit deal and NAFTA lifted market sentiment. As a result, the safe-haven Yen was broadly sold-off, driving the USD/JPY pair closer towards 111.50 barrier while the Antipodeans attempted a tepid recovery, as the Aussie shrugged off a dip in the Australian NAB business confidence gauge.  Moreover, the commodity-currencies also derived support from positive commodities’ prices and a risk-on rally seen in the Asian equity markets.

Meanwhile, the pound consolidated the overnight gains just under the 1.3050 level while the common currency wavered around the 1.16 handle. The Canadian dollar also traded firmer near 1.3150 versus its American counterpart amid ongoing NAFTA talks.

Main topics in Asia

US mulls China sanctions over Muslim abuses - The New York Times

North Korea's Kim looking for fresh Trump meeting - Reuters

Brexit could cost London billions - The UK Times

Fitch ratings affirm Singapore at 'AAA', outlook Stable

Japan’s Motegi: Japan, US have some differences in views on trade, but will try to resolve

Russia’s Novak: OPEC and allies can keep output quotas in place even after 2018

Asian stocks see gains, emerging markets remain shaky

BoJ seen willing to raise its ETF target if buying jumps a lot - Bloomberg

 FT report: Tory Eurosceptics fail to agree on Brexit plan B

Key Focus ahead

Heading into Europe, markets eagerly await the release of the UK labor market report at 0830 GMT, as the Kingdom’s wage growth numbers remain the main focus, which is expected to inch higher to 2.8% in July versus 2.7% booked in June. Also, of relevance remains the German ZEW economic surveys that will be reported at 0900 GMT alongside the Eurozone ZEW surveys and employment data.

The NA session appears data-light, with the second-liner Canadian housing starts and the US JOLTS job openings due on the cards at 1215 GMT and 1400 GMT respectively. Meanwhile, markets will continue to take cues from the Brexit and trade-related developments for some trading impetus.

EUR/USD: 20-day MA support intact despite solid USD wage growth figure, eyes ZEW survey

The EUR looks set to gain altitude in the near-term. The rally could gather pace if the German ZEW survey indices, due for release at 09:00 GMT, beats estimates and ...

GBP/USD looking to firm up over 1.30 ahead of UK earnings

Pound bulls have been seizing on the good news and pumping up the GBP on Brexit hopes for the second time in two weeks, and Tuesday sees another iteration of the UK's q/y Average Earnings at 08:30 GMT.

Week ahead: volatility should remain elevated

It is going to be a busy week in the markets, particularly for the pound with the upcoming release of key UK economic data, BoE’s rate decision and perhaps more importantly Brexit-related headlines.

BOE to reiterate its "gradual and limited" rhetoric this Thursday - Barclays

Analysts at Barclays offer a sneak peek at what to expect from the Bank of England (BOE) monetary policy meeting due later on Thursday.

GMT
Event
Vol.
Actual
Consensus
Previous
Friday, Sep 07
24h
 
 
Tuesday, Sep 11
06:00
 
 
13%
08:30
 
 
2.5%
08:30
 
3.6K
6.2K
08:30
 
4%
4%
08:30
 
2.5%
2.4%
08:30
 
2.8%
2.7%
09:00
 
-14.1
-13.7
09:00
 
72.0
72.6
09:00
 
-10.9
-11.1
09:00
 
1.4%
1.4%
09:00
 
0.4%
0.4%
n/a
 
 
1.94%
10:00
 
108.2
107.9
12:15
 
210.0K
206.3K
12:55
 
 
6.5%
12:55
 
 
0.8%
14:00
 
6.680M
6.662M
14:00
 
0.7%
0.7%
15:30
 
 
2.365%
15:30
 
 
1.97%
17:00
 
 
2.765%
20:30
 
 
-1.2M
23:50
 
8.0
-3.2
Wednesday, Sep 12
00:30
 
 
-2.3%
02:00
 
8.5%
8.5%

 

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.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD holds on to weekly gains, aims to 1.2100

EUR/USD pressures this week high at 1.2079 after the EU services sector moved back into expansion territory according to Markit, the first time since August.

EUR/USD News

GBP/USD extends decline towards the 1.3800 price zone

Upbeat UK data fell short of boosting the pound, hurt by Brexit jitters in Ireland. US macroeconomic figures making the difference in the dollar’s favor.

GBP/USD News

Bitcoin, Ethereum and XRP plummet, breaching critical support levels

Bitcoin price has dropped 12.7% since yesterday and shows no signs of stopping. Ethereum price follows the pioneer crypto’s lead and might retest $2,000 again. Unlike BTC or ETH, XRP price shows signs of recovery as long as it stays above a critical demand zone.

Read more

XAU/USD drops below $1,780 area as US T-bond yields rebound

Gold lost its traction after climbing toward $1,800 on Friday. 10-year US Treasury bond yield is up nearly 2%. Latest PMI data from US underlined strong price pressures.

Gold News

Bionano Genomics Inc runs into technical resistance, put options may work here

BNGO shares have continued to suffer post the retail meme crowd moving on. BNGO shares bounce from lows as DeMark buy signal flashes on Monday. BNGO shares trend up to resistance at 100 day moving average.

Read more

Forex MAJORS

Cryptocurrencies

Signatures