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Forex Today: Markets Calm Awaiting US Data

This is what you need to know to trade today Thursday September 15:

After the choppy action on Wednesday, markets remain relatively calm on Thursday. The Dollar Index remains in positive territory but below 110.00, US stock index futures are trading flat and the 10-year US Treasury yield is moving sideways above 3.4%. In the second half of the day, August retail sales data will feature on the US economic docket along with weekly initial jobless claims, the Empire State of New York manufacturing survey and the New York manufacturing survey. the Philadelphia Fed. Finally, the Fed will release industrial production and capacity utilization figures for August.

US Retail Sales: Can Consumers Keep Up With Inflation? A breather could weigh on the dollar

During Asian trading, China’s State Council announced that the People’s Bank of China (PBoC) will provide more than 200 billion yuan ($28.7 billion) in special loan funds to commercial banks to boost lending to companies. . In addition, Reuters reported that China’s four largest state-owned banks cut deposit rates, effective Thursday. Despite these advances, the Shanghai Composite Index ended up closing the day in negative territory.

Earlier in the day, data from Australia revealed that the unemployment rate rose to 3.5% in August from 3.4%. The participation rate improved to 66.6% from 66.4% and the employment change came in at +33,500, slightly below market expectations of 35,000. After an immediate mixed reaction, the AUD/USD started to rise and was last seen rising 0.15% on the day around 0.6750.

New Zealand statistics reported that Gross Domestic Product (GDP) expanded at an annualized rate of 0.4% in the second quarter, beating analysts’ forecast for 0.2% growth. Despite the encouraging GDP data, the NZD/USD fails to gain momentum and trades in a relatively tight range near 0.6000.

The EUR/USD it is still trading below parity on Thursday. The euro zone’s trade deficit is expected to widen to €35.5bn in July, from €30.8bn in June.

The GBP/USD managed to post modest gains on Wednesday and appears to have stabilized above 1.1500 early on Thursday.

The USD/JPY fell sharply on Wednesday amid speculation that the Bank of Japan may be preparing to intervene in currency markets. The pair gained traction during Asian trading hours and was last seen modestly rising on the day around 143.50.

The Prayed It broke below $1,700 during Asian trading hours and failed to recapture that level. With European traders entering the markets, XAU/USD extended its decline towards $1,680.

The Bitcoin it is still moving sideways slightly above $20,000. The ethereum remains stable near $1,600 after gaining more than 4% on Wednesday.

Source: Fx Street

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