News


Forex news from the European trading session – 19 September 2018

Headlines:

Markets:

  • AUD leads, CHF lags on the day
  • European equities mixed, FTSE MIB leads losses
  • Gold up 0.38% to $1,202.93
  • WTI down 0.10% to $69.78
  • US 10-year yields flat at 3.055%
  • Bitcoin up 0.03% to $6,319


Markets started the session with a risk on mood as Asian equities traded higher and China noting that they won’t weaponise the yuan in the trade war. The aussie and kiwi led gains, and that pretty much persisted for majority of the session.

AUD/USD started around 0.7240 and moved to a high of 0.7260 as the dollar and yen stayed weak on the day. NZD/USD started the session around 0.6600 before moving to a high of 0.6616 before retreating back a little to current levels.

With the trade war rhetoric dominating the market landscape still, EUR/USD took advantage of that to rise from 1.1680 to 1.1715 as a result of the weak dollar. The pair then retraced some gains and moved to 1.1700 thereafter. GBP/USD also moved from 1.3150 to 1.3175 during the time before settling around 1.3170 ahead of the UK inflation report.

The report was a beat and that sent the pound soaring as cable moved to session highs of 1.3215 on the back of that before settling around 1.3180 thereafter. Then came the Brexit reality check as a report by The Times mentioned that UK PM May is to reject the EU’s improved Brexit offer – leaving negotiations in limbo once again.

Cable fell from 1.3180 to a low of 1.3099 in a jiffy before recovering to around current levels of 1.3135. At the same time, there was a comment by White House economic adviser Kevin Hassett saying that US is ready to move ahead without Canada in a deal with Mexico. USD/CAD was trading near the lows at 1.2940 before popping higher to 1.2967 and settling near there at the moment.

In the midst of all of this, the swissie stays as the weakest performing major currency slumping late in the session ahead of the SNB meeting tomorrow. USD/CHF rose from around 0.9650 levels to near session highs now at 0.9690.



Source link

Articles You May Like

💥💥 Mas de $$1500 DOLARES!!! con mi ROBOT SCALPER para FOREX 💥💥 TRADING de FOREX AUTOMATIZADO
RSI indicator my best forex strategy . New trading system by RSI indicato. By Asir Intesir
Close by forex options expiry info for Thursday 18 October 2018
ADVANCE FOREX ENTRY TECHNIQUE
GBP and JPY shorts trimmed

Leave a Reply

Your email address will not be published. Required fields are marked *