The euro has kicked off the week with a slide towards $1.1050, close to its closing levels on Friday. Fears of US tariffs against the EU and the fallout from the attack on Saudi oil installations weigh.
Meanwhile, the latest escalation in geopolitical tensions in the Middle East, following an attack on Saudi Arabian refining facilities over the weekend, further benefitted the greenback's relative safe-haven status against its European counterpart and led to a subdued/range-bound price action at the start of the new trading week.
The downside, however, seemed cushioned as investors are likely to refrain from placing any aggressive bets ahead of this week's key event risk - the highly anticipated FOMC meeting on September 17-18.
The Fed is widely expected to cut interest again on Wednesday, though opinions on aggressive easing remain divided and should lead to some unusual volatility during the second half of this week's trading action.
19 Feb 2020 04:02 PM
The euro rose on Wednesday as improving risk sentiment in global markets paused the dollar's rally, providing relief to the single currency, which had earlier fallen to three-year lows after a survey showed weakening confidence in Germany.
19 Feb 2020 03:32 PM
Sterling edged back above $1.30 on Wednesday after data showed British inflation unexpectedly hitting a six-month high in January, confirming expectations that the Bank of England would not be cutting interest rates any time soon.
19 Feb 2020 02:49 PM
London's FTSE 100 rebounded in tandem with global markets on Wednesday as housebuilders advanced after HSBC upgraded its view on the stocks ahead of a first batch of results next week, while the number of new coronavirus cases in China fell.
19 Feb 2020 12:27 PM
The safe-haven yen eased slightly on Wednesday amid signs China was looking to fend off economic threats from the coronavirus, which supported investor confidence as the outbreak's spread appeared to slow.
19 Feb 2020 12:03 PM
China's yuan eased to a two-week low on Wednesday after the central bank set its official midpoint weaker than a key threshold for the first time in nearly two months.
19 Feb 2020 11:10 AM
Gold prices held steady above the key $1,600 mark on Wednesday as an uptick in equities due to a drop in new virus cases was kept in check by fears about the economic fallout of the epidemic.