This is what you need to know to trade today friday september 30:
The dollar came under heavy selling pressure and the Dollar Index (DXY) closed for the second day in a row in negative territory, losing more than 2% in that period. Markets remain relatively calm early on Friday as investors await euro zone inflation data and US Personal Consumption Expenditure Price Index (PCE) figures. Before the weekend, the University of Michigan (UoM) will publish the final version of its Consumer Sentiment Index for September. On the last trading day of the third quarter, position readjustments and profit taking could increase market volatility in the American session.
Early in the day, the China data showed the manufacturing PMI rebounded slightly above 50 in September and the non-manufacturing PMI fell to 50.6 from 52.6 in August. The Shanghai Composite Index failed to rebound after this data and closed in negative territory.
Meanwhile, the market mood remains cautious pending the release of the aforementioned data. US stock index futures are trading mixed with the 10-year US Treasury yield fluctuating in a tight range above 3.7%. DXY remains in positive territory slightly above 112.00.
The EUR/USD reached a fresh weekly high above 0.9830 early on Friday but lost its upside momentum. The pair was last seen with small daily losses around 0.9800. Annual inflation in the euro zone is expected to rise to 9.7% in September from 9.1% in August. On Thursday, the German agency Destatis reported that the annual Consumer Price Index rose 10% in September, beating market expectations of 9.4%.
The GBP/USD continued to build bullish momentum on Thursday and gained over 200 pips. The UK’s Office for National Statistics announced on Friday that Gross Domestic Product expanded 4.4% annually in the second quarter, beating market expectations of 2.9% by a wide margin.
On Thursday, the pair USD/JPY extended its sideways trend below 145.00 for the third day in a row. The pair remains directionless in its weekly range early on Friday. Data from Japan revealed that the Consumer Confidence Index fell to 30.8 in September from 32.5 in August, but this figure did not provoke a noticeable reaction in the market.
The Prayed took advantage of the drop in US Treasury yields and advanced to the $1,670 area in the early hours of the European session on Friday.
The Bitcoin it made a modest bounce on Thursday, but lost its momentum before testing $20,000. The ethereum it continues to move up and down in a narrow band around $1,300 on Friday.
Source: Fx Street
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