Market Focus – USD Slips Ahead of FED Policy Meeting
President Donald Trump used his first address to the United Nations yesterday Tuesday, to call on world leaders to form an alliance to confront North Korea and Iran, the countries his administration sees as the greatest threats to global security. Meanwhile, the two-day Federal Reserve Monetary-Policy meeting began same yesterday, in Washington. While Investors see the chances of another Rate rise this year as a coin-flip, attention will mostly be focused on the Central Bank’s plans to shrink its $4.5 trillion Balance Sheet, which are expected to be announced later today.
The Dollar slipped ahead of FED Policy Meeting by the close of the Wall Street Session Tuesday. Gold was flat with trading lackluster but Spot Gold edged higher upto 0.21%. Oil prices retreated. Dow Jones, Nasdaq and S&P500 all finished the day with positive numbers. FTSE100, DAX30 and CAC40 likewise, finished the day in the positive. EURUSD gapped to the 1.20 line as Dollar slipped. Sterling inched higher, and so did the Canadian Dollar. Yen weakened against the Dollar Tuesday.
Wednesday Potential Catalysts
Data
UK Retail Sales (MoM) (Aug) 4:30 AM ET – High Impact
US Existing home Sales (Aug) 10:00 AM ET – High Impact
US Crude Oil Inventories 10:30 AM ET – High Impact
New Zealand GDP (QoQ) (Q2) 6:45 PM ET – High Impact
Central Bank Speak
US FOMC Economic Projections 2:00 PM ET – High Impact
US FOMC Statement 2:00 PM ET – High Impact
US Fed Interest Rate Decision 2:00 PM ET – High Impact
US FOMC Press Conference 2:00 PM ET – High Impact
BoJ Monetary Policy Statement (YoY) [Tentative] – High Impact
