FX MARKET REPORT 09.10.2020

FX MARKET REPORT 09.10.2020

FX MARKET REPORT 09.10.2020

Daily Commentary
Daily Commentary
FX MARKET REPORT 09.10.2020
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FX MARKET REPORT 09.10.2020

UK GDP arrived at +2.1% MoM in August vs. +4.6% expected. GBP/USD holds on to modest gains near 1.2950 post-data. EUR/USD looks north as the dollar takes a beating against most currencies. China’s Caixin Services Purchasing Managers Index rose to 54.8 in September, against August’s reading of 54, remaining in positive territory for a fifth consecutive month, suggesting the second largest economy in the world is quickly returning to health. Yuan’s rally and risk-on action look to be weighing over the greenback. A continued rise in the US bond yields could stall the dollar sell-off. Dollar Index was down 0.1% at 93.528, while USD/JPY was down 0.1% at 105.94. 

UK GDP arrived at +2.1% MoM in August vs. +4.6% expected. GBP/USD holds on to modest gains near 1.2950 post-data. EUR/USD looks north as the dollar takes a beating against most currencies. China’s Caixin Services Purchasing Managers Index rose to 54.8 in September, against August’s reading of 54, remaining in positive territory for a fifth…

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