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Ethereum Price Forecast: ETH continues to attract capital despite impending rate hike and Clarity Act failure
Ethereum (ETH) declined to $2,400 on Tuesday after the Clarity Act failed to progress in the Senate. Despite that and the market's near certainty of an interest rate hike at the next Federal Reserve (Fed) meeting, the top altcoin has continued to attract fresh capital.
Tue, Sep 15
New Zealand Dollar slides ahead of Fed’s decision
NZD/USD trades close to the 0.5760s, extending a run of losses that has dragged it toward the lower end of its recent range. A broadly firmer US Dollar (USD) is behind the slide, with the greenback supported by climbing United States (US) yields and rate-hike expectations.
Tue, Sep 15
Chinese Yuan: Range-bound with slight downside bias against US Dollar – UOB
Quek Ser Leang at UOB notes USD/CNH remains directionless, trading narrowly around 6.71 with little change in momentum. Intraday, the pair is expected to hold between 6.7060 and 6.7160.
Tue, Sep 15
Crypto prices fall as Clarity Act fails to advance in Senate
The global crypto market declines nearly 3% on Tuesday after the Digital Asset Market Clarity Act failed to gather the required 60 votes needed to invoke cloture in the Senate.
Tue, Sep 15
Mexican Peso retreats as USD/MXN bounces from near YTD low
The Mexican Peso loses some ground against the US Dollar as USD/MXN rises by over 0.09% amid a sour market mood and the strength of the Greenback, ahead of the September 16 FOMC monetary policy decision. The exotic pair trades at 17.15, after hitting a yearly low of 17.10.
Tue, Sep 15
Indonesian Rupiah: Market tests Indonesia policy credibility – Commerzbank
Commerzbank analysts report that USD/IDR extended gains as investors assessed the appointment of Suahasil Nazara as Indonesia’s new Finance Minister, the third in under two years.
Tue, Sep 15
Crude Oil rallies again as Saudi Arabia's route around Hormuz shuts
West Texas Intermediate (WTI) Crude Oil trades just above $100.00, up about 3% on the day. It is on track for a third straight weekly gain.
Tue, Sep 15
Chinese Yuan: Slow appreciation with weak demand – Commerzbank
Commerzbank’s Volkmar Baur notes that Chinese growth remains export-led as domestic demand stays soft, with investment and retail sales under pressure and car sales slumping.
Tue, Sep 15
Forex Today: US Dollar firms as markets brace for Fed rate decision
The US Dollar Index (DXY) gained to 99.60 mark on Tuesday, and the bond market drove the move.
Tue, Sep 15
Singapore Dollar: Downtrend seen limited against US Dollar – UOB
UOB’s Quek Ser Leang notes USD/SGD extended gains toward 1.2725 as the US Dollar strengthened broadly and Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) stayed around 1.65% above its mid-point.
Tue, Sep 15
EUR/USD Price Forecast: Bears crack 100-day SMA, eye 1.1500
The Euro extends its losses against the US Dollar, sliding below the 100-day Simple Moving Average (SMA) at 1.1555, opening the door to further downside, with sellers setting their sights on Monday’s low of 1.1523. The EUR/USD trades at 1.1548, slightly above the 50-day SMA of 1.1530.
Tue, Sep 15
Japanese Yen slips as Oil lifts yields ahead of the Fed
USD/JPY trades near 155.20 on Tuesday, rising for a second straight day and pulling away from the roughly seven-month low it set last week. A firmer US Dollar (USD) is doing the work, helped by a sharp jump in Oil that has pushed US Treasury yields higher.
Tue, Sep 15
China: Growth risks rise with softer demand – Standard Chartered
Standard Chartered economists Hunter Chan and Shuang Ding assess China’s July-August data and conclude that domestic demand weakened while production held up.
Tue, Sep 15
NZD/USD Price Forecast: Bears break 0.5800 as Kiwi slide deepens
The New Zealand Dollar tumbles against the US Dollar for the second straight day this week, down 0.37% as risk appetite sours, with AI company CEOs expressing concerns about the rapid pace of evolution and as high energy prices push markets to expect further tightening by the Fed.
Tue, Sep 15
100 threshold: United States Dollar Index faces make-or-break Fed decision
The US Dollar Index (DXY) holds firm near a two-week high on Tuesday as traders prepare for the Federal Reserve’s (Fed) monetary policy decision on Wednesday. At the time of writing, the index trades around 99.66, up 0.17% on the day.
Tue, Sep 15
Gold bulls hit 100-day SMA wall as US yields bite
Gold (XAU/USD) price holds firm on Tuesday, capped on the upside by solid resistance at the 100-day Simple Moving Average (SMA) at $4,328, while broad US Dollar strength and elevated US bond yields weighed on the non-yielding metal.
Tue, Sep 15
South Korean Won: Supportive fundamentals, slower gains – Commerzbank
Commerzbank’s FX analysts Charlie Lay and Moses Lim note that the Korean Won has rallied nearly 15% against the Dollar since late June, driven less by the current account surplus and more by structural shifts in flows.
Tue, Sep 15
Canadian Dollar remains vulnerable aas Fed takes centre stage
USD/CAD extends its advance for a fifth consecutive day on Tuesday, hovering near a two-week high as the US Dollar (USD) stays firmly supported ahead of the Federal Reserve’s (Fed) monetary policy announcement on Wednesday.
Tue, Sep 15
Silver attempts cautious rebound ahead of closely watched Fed decision
Silver (XAG/USD) trades around $63.40 on Tuesday at the time of writing, up 0.28% on the day. The white metal attempts to stabilize as investors refrain from taking large positions ahead of the United States (US) Federal Reserve (Fed) monetary policy decision on Wednesday.
Tue, Sep 15
Dow Jones Industrial Average slides as yields beat the Fed to tomorrow's hike
The Dow Jones Industrial Average trades just under 52,000, down around 450 points, a day before the Fed's first expected hike since July 2023. Bets in the futures market put the odds of a quarter-point at 92.5%, so Wednesday's vote is not the news.
Tue, Sep 15
