Here’s what you need to know to trade today Thursday September 14:
Markets remain buoyant, as Asian stocks rise after important US Consumer Price Index (CPI) data cemented the Federal Reserve’s (Fed) pause bets. The futures of the US S&P 500 index, a barometer of risk, rose almost 0.30% on the day.
On Wednesday, the annual US inflation index showed a rise of 3.7% in August, compared to the 3.6% rise expected. The monthly CPI rose 0.6% in August, its biggest monthly rise of 2023, but matched the markets’ consensus. Core CPI rose 0.3% versus estimates of 0.2% and fell year-over-year to 4.3%, as expected.
Money markets continue to price in a pause in the Fed’s rate hike next week, while the probability of a rate hike in November remains around 40%, according to CME Group’s FedWatch tool. The Fed’s dovish expectations remain intact, which appears to be weighing on the US Dollar and US Treasury yields in European trading.
Within the G10 currency basket, the Australian dollar is the currency that is showing the greatest strength, followed by the Japanese yen, while the Canadian dollar is the weakest in the European session.
He AUD/USD Consolidates gains driven by Australian jobs data around 0.6435. The Australian economy added 64,900 jobs from the previous month, boosted by part-time jobs, data from the Australian Bureau of Statistics (ABS) showed on Thursday. The unemployment rate held steady at 3.7%, as expected.
He USD/CAD retreats below 1.3550, despite the pause in the recovery in oil prices. WTI stabilizes near ten-month highs at $89.
He USD/JPY is pressured towards 147.00 as the Japanese Yen receives support from comments from Japan’s newly appointed Economy Minister Yoshitaka Shindo. Shindo said he will “mobilize all possible policy measures to support the economy.” Weakening US Treasury yields are also adding weight to major currencies.
He EUR/USD It keeps its recovery mode intact near 1.0750 on the eve of the ECB meeting. The central bank is expected to maintain interest rates throughout the day. The update of economic projections and President Christine Lagarde’s speech will be key to obtaining clues about the ECB’s future policy and a clear direction for the Euro. The ECB’s quarterly projections will put inflation above 3% in 2024, Reuters reported on Wednesday, citing sources.
Euro price today
The following table shows the percentage change of the euro (EUR) against the main currencies quoted today. The Euro was the strongest currency against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.10% | -0.03% | -0.10% | -0.28% | -0.14% | -0.23% | -0.15% | |
| EUR | 0.12% | 0.08% | 0.03% | -0.18% | -0.01% | -0.13% | -0.03% | |
| GBP | 0.05% | -0.06% | -0.06% | -0.26% | -0.09% | -0.19% | -0.11% | |
| CAD | 0.10% | 0.00% | 0.08% | -0.19% | -0.04% | -0.13% | -0.05% | |
| AUD | 0.29% | 0.18% | 0.26% | 0.20% | 0.17% | 0.05% | 0.14% | |
| JPY | 0.13% | 0.05% | 0.11% | 0.04% | -0.16% | -0.08% | 0.00% | |
| NZD | 0.21% | 0.13% | 0.21% | 0.15% | -0.05% | 0.12% | 0.10% | |
| CHF | 0.16% | 0.07% | 0.11% | 0.06% | -0.14% | 0.01% | -0.08% |
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 GBP/USD is battling 1.2500 amid UK economic woes and a weaker US Dollar. The ECB’s decision could have a “spillover” effect from the EUR/GBP cross on the Pound Sterling.
The price of Gold sinks to three-week lows near $1,905, with sellers hoping for a sustained break of the $1,900 threshold for further declines.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
