FX MARKET REPORT 16.09.2020

FX MARKET REPORT 16.09.2020

FX MARKET REPORT 16.09.2020

Daily Commentary
Daily Commentary
FX MARKET REPORT 16.09.2020
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FX MARKET REPORT 16.09.2020

GBP lacks firm directional bias and seesaws between tepid gains/minor losses. GBP/USD holds steady below 1.2900 mark, BOE Readies for Action. EUR/USD keeps the consolidative fashion unchanged. Dollar Down Ahead of Fed Meeting, down 0.03% to 93.085, giving up some earlier gains. The USD/JPY pair was down 0.15% to 105.28. In other markets, DAX in Germany traded 0.1% higher, the CAC 40 in France rose 0.1% and the U.K.’s FTSE index was down 0.3%. Inditex (MC:ITX) stock climbed 5.6% after the fashion retailer returned to quarterly profit in the three months from May to July despite sales slumping as consumers stayed away from city centre shopping districts. This follows Swedish rival H&M (ST:HMb) beating quarterly profit forecasts on Tuesday, and could represent a rebound for the battered retail sector. H&M stock rose another 4.4% on Wednesday.  Oil prices rose after the American Petroleum Institute detailed a big drop in U.S. stockpiles and Hurricane Sally continued to disrupt offshore production in the Gulf of Mexico. U.S. crude futures traded 2% higher at $39.04 a barrel, while the international benchmark Brent contract rose 1.7% to $41.22. Both benchmarks rose by more than 2% during the previous session. Gold futures rose 0.4% to $1,973.75/oz.  

GBP lacks firm directional bias and seesaws between tepid gains/minor losses. GBP/USD holds steady below 1.2900 mark, BOE Readies for Action. EUR/USD keeps the consolidative fashion unchanged. Dollar Down Ahead of Fed Meeting, down 0.03% to 93.085, giving up some earlier gains. The USD/JPY pair was down 0.15% to 105.28. In other markets, DAX in…

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