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The current situation on Forex market

The current situation on Forex market

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Jim Anderson - Public Relations

Introducing the key events of Tuesday, September 3:

GBP / USD is trading near the lowest rate since 2019 at around 1.2015. Today, parliament resumes work after the summer holidays. And yesterday, opposition leader Jeremy Corbin confirmed that deputies will try to introduce a legislative initiative on Tuesday that impedes the country’s withdrawal from the EU without a deal. If the Labor plan gets approval, the UK government will have to ask for a 3-months Brexit delay until January 31. At the same time, British Prime Minister Johnson once again stated that he is not going to ask for any postponement, thereby hinting that he would be forced to hold early parliamentary elections, probably on October 14. These events attract the attention of markets.

EUR / USD continues to retreat to new lows at 1.0950 (the lowest since 2017). The US dollar is strengthening on all fronts, and players are waiting for the ECB’s decision on September 12.

The USA and China cannot decide on the date of the high-level negotiations. The largest economies in the world “exchanged” duties on the weekend.

RBA kept the interest rate unchanged at 1.00% and hinted at a further reduction in interest rates. AUD / USD is trading at 0.67. Previously, Australian retail sales fell to -0.1%.

Today, during the North American session, the United States will publish the ISM index of business activity in the manufacturing sector for August. This report will shed light on Friday’s NFP US employment data.

The markets of the USA and Canada are returning to work after the holidays so that trading will become more active.

Cryptocurrencies recovered, Bitcoin is again trading above $10.000.