Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

Forex Today: An impasse is likely ahead of the FOMC meeting

Source Fxstreet

The Greenback came under renewed downside pressure following further cooling of the US labour market as well as extra signs that disinflationary pressures remained far from abated in August, this time via Producer Prices. Those readings seem to have cemented investors’ prospects of a rate cut by the Fed at its meeting next week.

Here is what you need to know on Friday, September 13:

The US Dollar Index (DXY) halted a four-day positive streak on the back of the resurgence of the downward bias in response to soft US data. Import and Export Prices are due on September 13, seconded by the preliminary Michigan Consumer Sentiment gauge.

EUR/USD finally saw some signs of life and regained composure following four straight days of losses. The Industrial Production in the broader euro bloc will be published on September 13 ahead of the Eurogroup Meeting and the speech by the ECB’s C. Lagarde.

GBP/USD regained the smile and trespassed the 1.3100 barrier following further selling pressure in the Greenback. The next risk event on the UK docket will be the release of the Inflation Rate on September 18.

USD/JPY extended its weekly leg lower and revisited once again the area below the 142.00 support on the back of higher yields and the daily pullback in the Greenback. The final Industrial Production prints are due on September 11, along with Capacity Utilization.

AUD/USD advanced to weekly tops and left behind the 0.6700 hurdle following the intense buying interest in the risk-linked assets. The Westpac Leading Index is expected on September 18.

Prices of WTI added to Wednesday’s recovery and approached the key $70.00 mark per barrel on the back of supply concerns before Hurricane Francine’s landfall.

Gold prices clinched an all-time top around $2,555 per ounce troy in response to the weaker US Dollar and expectations of the Fed's easing. Silver rallied to two-week highs, trading at shouting distance from the key $30.00 mark per ounce.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Yesterday 05: 53

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

Yesterday 06: 19

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Brent slides below $102 after Houthis' first strike on Riyadh — why oil can't hold $100 Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.

Author Irene Q.

12 hours ago

Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.

Related Instrument