FX MARKET REPORT 14.09.2020

FX MARKET REPORT 14.09.2020

FX MARKET REPORT 14.09.2020

Daily Commentary
FX MARKET REPORT 14.09.2020
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FX MARKET REPORT 14.09.2020

GBP/USD to bounce from 200-DMA at 1.2735 ahead of further losses – Commerzbank. Goldman Sachs says pound levels now attractive. EUR/USD to see further gains as markets are upbeat after a turbulent week, trading around 1.1850. Bulls eye initial resistance at 1.1875. The U.S. Dollar Index edged down 0.16% to 93.192 this morning and rolled over to the December contract on Sunday. In other markets, DAX futures contract in Germany traded 1% higher, CAC 40 futures in France climbed 0.5%, while the FTSE 100 futures contract in the U.K. rose 0.4%. AstraZeneca (NYSE:AZN) announced Saturday that it had resumed phase 3 trials of its Covid-19 vaccine candidate, which it is developing with the University of Oxford, after the relevant U.K. authorities gave their approval. Additionally, a day later, Pfizer (NYSE:PFE) CEO Albert Bourla said the company’s own candidate, co-developed with German drug maker BioNTech, has a “good chance” of submitting key data from late-stage trials by the end of October. Euronext (PA:ENX) will be in focus after saying Monday that it has submitted a non-binding offer to acquire Borsa Italiana from London Stock Exchange Group (LON:LSE). This is set to spark a takeover battle for the Italian exchange as Deutsche Boerse (DE:DB1Gn) submitted an offer on Friday. Oil prices strengthened Monday as another fierce storm in the Gulf of Mexico caused rigs to shut down production. U.S. crude futures traded 0.5% higher at $37.53 a barrel, while the international benchmark Brent contract rose 0.3% to $39.93. Gold futures rose 0.5% to $1,957.20/oz. 

GBP/USD to bounce from 200-DMA at 1.2735 ahead of further losses – Commerzbank. Goldman Sachs says pound levels now attractive. EUR/USD to see further gains as markets are upbeat after a turbulent week, trading around 1.1850. Bulls eye initial resistance at 1.1875. The U.S. Dollar Index edged down 0.16% to 93.192 this morning and rolled…

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