This is what you need to know to trade today friday september 16:
The dollar continues to benefit from safe haven flows in the last trading day of the week, with the Dollar Index rising towards 110.00. US stock index futures are down 0.5%-0.8% in early morning trading in Europe and the 10-year US Treasury yield remains just under 3.5%. Eurostat is to release revisions to CPI inflation figures for August and the University of Michigan is to release preliminary data for the consumer sentiment index for September before the weekend.
US Consumer Sentiment Preview: Every 0.1% Deviation In Inflation Gauge Will Cause Wild Dollar Moves
After the publication of mixed macroeconomic data in the United States on Thursday, the main Wall Street indices ended up closing the day in negative territory. Pending the Fed’s monetary policy announcements next week, CME Group’s FedWatch tool shows that markets are pricing in a 26% chance of a 100 basis point rate hike, which does not allow US stocks stage a rebound.
Meanwhile, data from China earlier in the day showed that retail sales rose 5.4% year over year in August, beating market expectations of 3.5%. In addition, industrial production grew 4.2% in the same period, compared to analysts’ estimate of 3.8%. Despite these optimistic data, the mood of the markets remains sour.
The EUR/USD managed to post small daily gains on Thursday, but failed to stabilize above parity. The pair was last seen trading slightly lower on the day at 0.9985. The vice president of the European Central Bank (ECB), Luis de Guindos, said on Friday that they do not have any estimate of the terminal rate.
The GBP/USD lost almost 100 pips on Thursday and started to slide towards 1.1400 early on Friday, with the risk-sensitive sterling struggling to find demand in the current market environment.
After Wednesday’s crash, at USD/JPY it is struggling to pick up recovery momentum and is trading in a relatively tight range below 144.00.
A technical sell-off was triggered on Thursday after gold broke below key support at $1,680. XAU/USD it last traded at its weakest level in over two years, at $1,660. In weekly terms, the yellow metal has lost more than 3%. Rising US Treasury yields put additional weight on the pair throughout the week as well.
The Bitcoin It broke below key support at $20,000 late on Thursday and is now trading flat on the day around $19,750. The ethereum lost almost 10% on Thursday and appears to have entered a consolidation phase around $1,500.
Source: Fx Street
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