Forex Today: US Dollar firms ahead of UK jobs and a midweek Fed decision
Here is what you need to know on Tuesday, September 15:
The US Dollar Index (DXY) held firm at the start of the week, staying above the 99.00 mark and trading near 99.40, still short of the 100.00 threshold. The bid is coming from the Federal Reserve (Fed) as markets have moved to price in a near-certain rate move at this week's meeting, keeping the Greenback supported across the board heading into a data-heavy Tuesday.
The NY Empire State Manufacturing Index is expected to slip to 14.75 from 20.6, and will arrive along with the ADP Employment Change 4-week average, but the US Dollar's real focus is the Fed decision on Wednesday.
The pressure showed up most against the majors tied to risk and rates. Gold gave back ground, and the growth-sensitive currencies eased, while only the Pound managed to hold its own.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.37% | 0.12% | 0.40% | 0.21% | 0.39% | 0.53% | 0.08% | |
| EUR | -0.37% | -0.23% | 0.04% | -0.19% | 0.00% | 0.16% | -0.30% | |
| GBP | -0.12% | 0.23% | 0.25% | 0.08% | 0.25% | 0.40% | -0.13% | |
| JPY | -0.40% | -0.04% | -0.25% | -0.22% | -0.02% | 0.11% | -0.39% | |
| CAD | -0.21% | 0.19% | -0.08% | 0.22% | 0.16% | 0.30% | -0.20% | |
| AUD | -0.39% | -0.00% | -0.25% | 0.02% | -0.16% | 0.15% | -0.39% | |
| NZD | -0.53% | -0.16% | -0.40% | -0.11% | -0.30% | -0.15% | -0.54% | |
| CHF | -0.08% | 0.30% | 0.13% | 0.39% | 0.20% | 0.39% | 0.54% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
EUR/USD stayed on the back foot, drifting toward the mid-1.1500s as the Dollar firmed.
GBP/USD held up better than its peers, hovering around the 1.3510 mark ahead of the UK jobs report. The United Kingdom (UK) labor market report leads for GBP/USD, with average earnings including bonus seen easing to 3.9% from 4.1% and the ILO unemployment rate forecast to tick up to 5%. After that come Eurozone inflation confirmations out of France and Spain, then Germany's ZEW survey for EUR/USD, where economic sentiment is seen improving to 37 from 34.2.
USD/JPY pushed higher, reclaiming the 154.00 handle as the Yen slipped. Japan's August trade figures round things out for USD/JPY, with exports seen slowing to 18.2% YoY from 23.2%.
AUD/USD could not find support, easing back toward the 0.7150 region. Asia opens with China's August activity data: Industrial Production is seen picking up to 4.8% and Retail Sales to 0.8%.
Gold lost its grip, receding toward the $4,300 per troy ounce zone.
West Texas Intermediate (WTI) Oil extended its advance, pushing back above the $100.00 per barrel mark.