Here’s what you need to know to trade today Tuesday September 26:
The US Dollar (USD) continues to outperform its rivals early on Tuesday, amid sour markets and rising US Treasury yields. The DXY Dollar Index is trading at its highest level since November above 106.00 after closing in positive territory on Monday, as the US 10-year yield remains at multi-year highs above 4.5%. August new home sales and Conference Board Consumer Confidence Index September will be the prominent topics on the US economic agenda.
Price of the US Dollar this week
The following table shows the percentage change of the United States Dollar (USD) against the main currencies this week.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.58% | 0.52% | 0.00% | 0.74% | 0.28% | 0.21% | 0.72% | |
| EUR | -0.59% | -0.05% | -0.44% | -0.02% | -0.27% | -0.50% | 0.08% | |
| GBP | -0.60% | 0.06% | -0.44% | 0.03% | -0.25% | -0.38% | 0.13% | |
| CAD | -0.08% | 0.59% | 0.45% | 0.59% | 0.38% | 0.00% | 0.53% | |
| AUD | -0.66% | -0.01% | -0.11% | -0.58% | -0.17% | -0.49% | 0.10% | |
| JPY | -0.44% | 0.26% | 0.15% | -0.40% | 0.29% | -0.19% | 0.37% | |
| NZD | -0.22% | 0.43% | 0.50% | 0.09% | 0.49% | 0.17% | 0.64% | |
| CHF | -0.72% | -0.09% | -0.13% | -0.51% | -0.13% | -0.28% | -0.59% |
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 that appears in the box will represent EUR (base)/JPY (quote).
As a reflection of the feeling of risk aversion that reigns in the markets, the futures of the US stock indices fall between 0.5% and 0.8% in the early stages of the European session, and the Euro Stoxx 50 index falls almost 1% today. Meanwhile, Bloomberg reported earlier in the day that Senate Republican and Democratic negotiators nearer agreement on short-term spending measure to avert government shutdown. However, this news did not help to improve spirits.
He EUR/USD lost over 50 pips on Monday and fell below 1.0600 for the first time since early March. On Tuesday, the pair fluctuates in a tight range near Monday’s closing level. During her intervention before the Committee on Economic and Monetary Affairs of the European Parliament, the president of the European Central Bank (ECB), Christine Lagarde, pointed out that Recent indicators point to further weakness in economic activity in the third quarter.
He GBP/USD extended its decline in the Asian session on Tuesday and hit a new multi-month low below 1.2170 before recovering modestly towards 1.2200.
He USD/JPY it rose above 149.00 on Tuesday, but then did a sharp 180º turn. Investors remain in suspense the possibility of the Bank of Japan intervening in the markets currency. Yoshitaka Shindo, Japan’s newly appointed Economy Minister, reiterated on Tuesday the importance of currencies moving stably reflecting fundamentals: “A weak Yen has several effects on the economy, such as increasing import costs for consumers and improving the competitiveness of exporters,” Shindo added.
Pressured by rising yields in the United States, the price of Gold posted losses on Monday and fell below $1,910 early on Tuesday. XAU/USD, however, managed to erase its daily losses and is now moving sideways around $1,915.
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.
