FX MARKET REPORT 08.09.2020

FX MARKET REPORT 08.09.2020

FX MARKET REPORT 08.09.2020

Daily Commentary
Daily Commentary
FX MARKET REPORT 08.09.2020
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FX MARKET REPORT 08.09.2020

The pound has continued to underperform amidst more risk-averse trading conditions. It has resulted in EUR/GBP rising back towards the 0.9000-level. Cable could gradually return to the 1.3100 region in the next week. EUR/USD is showing some signs of recovery following five consecutive daily pullbacks and looks to regain upside momentum above 1.1800. On the flip side, interim support emerges at 1.1750. The dollar index was up 0.4% at 93.062. In other markets, DAX futures contract in Germany traded 0.2% higher, CAC 40 futures in France climbed 0.3%, while the FTSE 100 futures contract in the U.K. rose 0.4%. European stock markets are seen opening higher Tuesday, with expectation growing ahead of Thursday’s policy meeting of the European Central Bank. However, investors will be keeping a wary eye on the U.S. tech sector as Wall Street returns from holiday. U.S. crude futures traded 1.7% lower at $39.09 a barrel, while the international benchmark Brent contract fell 0.1% to $42.00. Gold futures rose 0.3% to $1,940.30/oz. 

The pound has continued to underperform amidst more risk-averse trading conditions. It has resulted in EUR/GBP rising back towards the 0.9000-level. Cable could gradually return to the 1.3100 region in the next week. EUR/USD is showing some signs of recovery following five consecutive daily pullbacks and looks to regain upside momentum above 1.1800. On the…

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