Forex Today: Trump in trouble, UK parliament is back, trade uncertainty is weighing

Here is what you need to know on Wednesday, September 25:
- US Democrats have announced they will move to impeach President Donald Trump. The move weighed on markets and pushed safe-havens such as the yen higher. 
- Trump lambasted China's trade practices despite fresh Chinese buying of US agricultural goods, adding to the damp mood. China's "Beige Book" has shown a significant slowdown in the third quarter.  The US is preparing tariffs against the EU following the WTO ruling in its favor. 
- GBP/USD has been losing its initial gains that followed the UK Supreme Court's decision that parliament's prorogation was unlawful. The political blow still leaves significant uncertainty as the House of Commons reconvenes today and has yet to plot the next moves. Prime minister Boris Johnson returns to London and has defied calls to step down.
- EUR/USD has recovered and is back to 1.10 after Germany's IFO Business Climate met low expectations, one day after Markit's Purchasing Managers' Indexes (PMIs) reflected growing chances of a recession. Incoming European Central Bank President Cristine Lagarde has expressed optimism about averting a global recession.
- The Reserve Bank of New Zealand left its interest rate unchanged at 1% as expected – but kept the door open to further easing. NZD/USD remains stable above 0.63.
- US New Home Sales and speeches from several Federal Reserve officials are on the agenda today after the Conference Board's Consumer Confidence measure disappointed on Tuesday. 
- Cryptocurrencies tumbled down with Bitcoin falling to around $8,500 – dragging other coins with it.

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD stabilizes above 1.10 amid trade pessimism

EUR/USD is trading above 1.10, stabilizing after falling on Friday. President Trump has expressed pessimism about reaching a deal with China.


GBP/USD runs through 1.2850 on Brexit hopes

GBP/USD is trading at daily highs above 1.2860 price zone, despite UK GDP missed expectations with an increase of only 0.3% QoQ. Comments from UK's Javid saying "fundamentals strong," and other's from Nigel Farage, supporting Conservatives, underpinned Pound.    


USD/JPY trims losses, rises back above 109.00

The USD/JPY pair trimmed losses over the last hours amid a recovery of the US dollar and despite the decline in equity prices in Wall Street.


Gold rebounds from multi-month lows, trades around $1,455

After posting its largest weekly percentage drop of the year and erasing more than $50, the troy ounce of the precious metal remained under pressure on Monday with the XAU/USD pair slumping to its lowest level since early August at $1,452.

Gold News

Central bankers link the future to blockchain projects

The race towards the tokenization of sovereign currencies has begun a long time ago, but it finally enjoying its time in the sun. China has announced its intention to create an e-Yuan, and also in Europe, institutions are considering the matter.

Read more