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FX MARKET REPORT 25.09.2020

FX MARKET REPORT 25.09.2020
Daily Commentary
FX MARKET REPORT 25.09.2020
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FX MARKET REPORT 25.09.2020

Cable is seen attempting a consolidation move ahead of a potential drop to the. Mid-1.2600s. The pair GBP/USD has remained side-lined near 1.2750 ahead of the London open. EUR/USD pair is currently trading at 1.1675, representing a 1.4% decline on a week-to-date basis. The US dollar index trades modestly flat at 94.37, having partially recovered from the NY lows to 94.20 reached amid mixed US data and Wall Street bounce. In other markets, DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed 0.4% and the FTSE 100 futures contract in the U.K. rose 0.4%.  On Wall Street overnight, the Dow Jones Industrial Average closed 0.2% higher, the S&P 500 gained 0.3% and the Nasdaq Composite added 0.4%.   BMW (DE:BMWG) may be in the spotlight after the German luxury car maker agreed to pay $18 million to the Securities and Exchange Commission to settle claims that it had disclosed misleading sales figures.  Fast fashion group Boohoo in the UK published the conclusions of its review into supply chain issues that had knocked its share price badly earlier in the summer.  U.S. crude futures traded 0.1% lower at $40.29 a barrel, while the international benchmark Brent contract was flat at $41.94. Brent is heading for a drop of over 2% this week, while U.S. crude is on track for a decline of around 1.5%. Gold futures fell 0.3% to $1,872.20/oz.   

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