Here is what you need to know on Thursday, September 12th:
- The EUR/USD pair pierced the 1.1000 level and settled around it, weaker ahead of a largely anticipated ECB announcement. There was no apparent catalyst for EUR’s decline, although the Kiel Institute for the World Economy downgraded its forecast for German economic growth in Q3.
- The Scottish High Court ruled that PM Boris Johnson ´s decision to suspend the Parliament is unlawful, as”it had the purpose of stymying Parliament.” PM Johnson said that there’s “no way” Theresa May’s Withdrawal Agreement will be brought back.
- The Hong Kong stocks exchange (HKEX) made a $36.6 billion offer for London stock exchange, which led to substantial gains in equities worldwide.
- US Treasury yields surged to their highest in a month, with the benchmark yield on the 10-year note hitting 1.75%.
- Crude oil prices edged sharply lower after US President Trump discussed easing sanctions on Iran with an aim to secure a meeting with Iranian President Rouhani. The news overshadowed an encouraging EIA weekly stockpiles report, which showed that inventories decreased by6.912M in the week ended September 6. *
- Bitcoin seesawed within gains and losses, ended the day around 10,000.
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