FOREX TODAY: US DOLLAR REGAINS GROUND TODAY AMID CAUTIOUS OPTIMISM

WHAT YOU SHOULD BE AWARE OF ON TUESDAY, SEPTEMBER 12 IS AS FOLLOWS:

After Reuters reported, citing sources, that Country Garden, the largest private property developer in China, from its creditors to postpone the repayment of six onshore notes by three years, the markets experienced. The small increases in Asian indices are being aided by the tech companies on Wall Street.

Amazon increased 3.5%, Tesla increased 10.1%, and Meta Platforms increased 3.2%. Ahead of a Tuesday presentation where the company is scheduled to unveil its newest iPhone model, Apple gained 0.7%.

The US S&P 500 futures have reduced early risk reset, but they are still struggling to continue to trade cautiously, policy instructions from the Chinese and Japanese central banks. Additionally, there is caution ahead of the crucial Consumer Price Index (CPI) data from the US due out on Wednesday, which will show how far the US Federal Reserve (Fed) may raise interest rates.

Due to the lack of economic data releases and the slow performance of US Treasury bond yields, the US Dollar is again finding a floor after losing the most in two months on Monday.

PRICE OF THE US DOLLAR TODAY

The US Dollar (USD)'s percentage movement relative to the main currencies listed below is shown in the table below. In comparison to the New Zealand Dollar, the US Dollar was the strongest.

The heat map displays percentage changes between the major currencies. The quotation currency is chosen from the top row, while the base currency is chosen from the left column. If you choose the Euro from the left column and go to the Japanese Yen along the horizontal line, percentage change shown in the box will be EUR (base)/JPY (quote).

The USD/JPY is strengthening, after Hiroshige Seko, the secretary-general of the upper house of Japan's ruling Liberal Democratic Party (LDP), stated that “BoJ Gov. Ueda has said that exit from the easy policy will be after achieving the 2% inflation target.”

As traders prepare for Germany's ZEW poll, the EUR/USD is consolidating its recovery near 1.0750. Trade in euros takes EU Commission's revision of the growth projections for the Eurozone. After the mixed UK jobs, earnings surged at a joint-record pace while unemployment increased in the economy, the GBP/USD pair is maintaining its 1.2500 level. Catherine Mann, a policymaker for the Bank of England (BoE), stated on Monday, I would rather err on the side of over-tightening.

But if I am mistaken and inflation slows down faster and the economy worsens, I won't think twice about cutting rates.

As the US Dollar sell-off has paused, the renewed China confidence is being countered by a 25 pip swing in the Australian Dollar/US. Despite the most recent increase in WTI prices, approaching the 1.3600 level.

In the absence of new catalysts and repositioned pre-US inflation data, the price of gold is remaining stable while defending the pivotal 200-Daily Moving Average (DMA) at $1,920.