Today is FOMC day! The Committee concludes its two-day monetary policy meeting, with market consensus suggesting that a 25bps rate reduction will be delivered. Thus, if this is the case, focus will quickly turn to signals on how policymakers intend to move forward. A few hours after the Fed, during the Asian morning Thursday, the central bank torch will be passed to the BoJ. Following recent reports that Japanese officials are more open to discuss further easing, it would be interesting to see whether they will decide to act now.
Fed Set to Cut Again, Mind the “Dots”
The dollar traded lower or unchanged against the majority of the other G10 currencies on Tuesday and during the Asian morning Wednesday. It underperformed against GBP, EUR, NOK and AUD in that order, while it was found virtually unchanged versus CAD, JPY and NZD. The greenback gained slightly only against SEK and CHF.
The spotlight stayed on the energy market for another day, with oil prices tumbling during the US trading, after Saudi Energy Minister Prince Abdulaziz bin Salman said...
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