WILL THE FED DO SOMETHING TODAY?

The impending monetary policy decision from the FOMC was the dominant theme in Asia-Pacific hours, while regional data releases and overnight news flow provided little to no surprises. USD pushed higher against every other G10 currency, but outperformed by relatively narrow margins.

The AUD and NZD were heavy and a less than inspiring reading of Aussie Westpac Leading Index didn't improve the outlook. Meanwhile, NZ current account balance met exp., with no immediate impact on NZD. Still, the kiwi was the worst G10 performer.

Subdued oil prices dented NOK (but not its oil-tied peer from Canada) after yesterday's unwinding of an earlier rally in crude, linked to the extensively covered events in Saudi Arabia.

Economic Data:

Europe's highlight in terms of data is the publication of UK inflation numbers at 0930BST. In the US, the FOMC policy decision will be closely watched, while the release of data on inflation at 1330 BST is the main data event in Canada.

Forex Volatility Chart

Posted on

September 18, 2019

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Market Updates

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