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Forex Today: Dollar retreats as markets celebrate China’s optimism ahead of US data

Here’s what you need to know to trade today Friday September 15:

Risk appetite remains in the markets ahead of the European session, while Asian markets followed Wall Street’s recovery from the previous day. The success of the Arm IPO It instilled confidence in the US stock markets and raised market sentiment. The operators have celebrated China’s supportive policy measures and strong business activity data on the last trading day of the week, which has increased market optimism. US S&P 500 index futures are up about 0.20% on the day.

He People’s Bank of China (PBoC) has cut the reserve requirement ratio (RRR) and the 14-day repo rate, in an effort to stimulate the faltering economic recovery. China’s retail sales and industrial production rose more than expected in August.

He US Dollar Index DXY retreated from six-month highs of 105.43 against its main rivals as risk appetite reduces its safe haven appeal. Meanwhile, US Treasury yields are in an upward consolidation phase, awaiting a fresh batch of US economic data for fresh impetus. Mid-level industrial production, consumer sentiment and preliminary inflation expectations from the University of Michigan will be released on the US agenda.

Quote of the US dollar today

The following table shows the percentage change of the United States Dollar (USD) against the main currencies.

USD -0.25% -0.24% -0.09% -0.57% 0.03% -0.53% -0.14%
EUR 0.26% 0.01% 0.16% -0.34% 0.28% -0.30% 0.15%
GBP 0.22% -0.04% 0.13% -0.37% 0.28% -0.33% 0.12%
CAD 0.08% -0.18% -0.15% -0.50% 0.11% -0.46% -0.01%
AUD 0.57% 0.32% 0.35% 0.49% 0.63% 0.04% 0.48%
JPY -0.04% -0.30% -0.28% -0.15% -0.61% -0.60% -0.17%
NZD 0.53% 0.27% 0.30% 0.43% -0.05% 0.58% 0.41%
CHF 0.12% -0.15% -0.12% 0.01% -0.45% 0.17% -0.42%

The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change in the box will represent EUR (base)/JPY (quote).

He AUD/USD extends the rebound towards 0.6500 thanks to good Chinese data and supportive monetary policy measures. He USD/CAD struggles near 1.3500 amid a pause in the recovery in oil prices and a broad pullback in the US Dollar. He WTI is trading near a multi-month high of $90.56 at the time of writing.

He USD/JPY remains stable around 147.50, maintaining the weekly range pending the monetary policy decisions of the Fed and the Bank of Japan next week.

He EUR/USD extends the bounce from the six-month lows reached on Thursday at 1.0633. He European Central Bank (ECB) raised official interest rates by 25 basis points (pb), but pointed out that could be the last rise amid downward revisions to the central bank’s growth and inflation forecasts.

He GBP/USD is defending the 1.2400 level as improved market sentiment supports the higher-performing British Pound.

The price of Gold It moves away from multi-week lows, seeking to reclaim the critical hurdle of $1,920.

Source: Fx Street

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