Forex Today: An impasse is likely ahead of the FOMC meeting

The Greenback came under renewed downside pressure following further cooling of the US labour market as well as extra signs that disinflationary pressures remained far from abated in August, this time via Producer Prices. Those readings seem to have cemented investors' prospects of a rate cut by the Fed at its meeting next week.

Here is what you need to know on Friday, September 13:

The US Dollar Index (DXY) halted a four-day positive streak on the back of the resurgence of the downward bias in response to soft US data. Import and Export Prices are due on September 13, seconded by the preliminary Michigan Consumer Sentiment gauge.

EUR/USD finally saw some signs of life and regained composure following four straight days of losses. The Industrial Production in the broader euro bloc will be published on September 13 ahead of the Eurogroup Meeting and the speech by the ECB's C. Lagarde.

GBP/USD regained the smile and trespassed the 1.3100 barrier following further selling pressure in the Greenback. The next risk event on the UK docket will be the release of the Inflation Rate on September 18.

USD/JPY extended its weekly leg lower and revisited once again the area below the 142.00 support on the back of higher yields and the daily pullback in the Greenback. The final Industrial Production prints are due on September 11, along with Capacity Utilization.

AUD/USD advanced to weekly tops and left behind the 0.6700 hurdle following the intense buying interest in the risk-linked assets. The Westpac Leading Index is expected on September 18.

Prices of WTI added to Wednesday's recovery and approached the key $70.00 mark per barrel on the back of supply concerns before Hurricane Francine's landfall.

Gold prices clinched an all-time top around $2,555 per ounce troy in response to the weaker US Dollar and expectations of the Fed's easing. Silver rallied to two-week highs, trading at shouting distance from the key $30.00 mark per ounce.