Forexlive European FX news wrap 17 September – German ZEW falls to a 10 month low

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Markets:

  • AUD leads, CAD lags on the day
  • European equities higher;
    S&P 500 futures up 0.24%
  • US 10-year yields flat at
    3.618%
  • Gold
    down 0.29% to $2,575
  • WTI
    crude up 0.20% to $70.23
  • Bitcoin
    up 1.49% to $59,069

It’s been a
quiet session with no major news releases. The only economic report was the
German ZEW which missed expectations by a big margin.

In the
markets, the mood is tentatively positive as risk assets continue to gain as we
head into the FOMC decision tomorrow. The probability for a 50 bps cut stands
now around 65%.

In the
American session, we get the US Retail Sales and the US Industrial Production
data. If we get weak readings, then the market will likely seal the 50 bps cut
with a 70%+ probability. In case the data comes out strong though, it’s
unlikely that we will see much change in the pricing although we should get closer to a 50/50 chance.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Go to Forexlive

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