Morning Report: 06.45 London
- This morning, markets are generally on pre-fed alert, with the dollar index continuing to dominate currency flows. Continued declines in commodity prices such as oil have helped underpin a general perception that the Fed could slow its path of interest rate hikes, if not delay entirely in December.
- The USD/CAD rallied yesterday as lower oil prices continue to take their toll.
- The USD/JPY also continued to slip back into the middle of its trading range.
- The big mover this morning is the Australian dollar after CPI came in well below expectations.
Coming up today:
- Today will be dominated by the FOMC meeting statement at 18.00. Before this we have goods balance at 12.30 and crude oil inventories at 14.30.
- Later this evening we have the RBNZ rate statement.
Trade Idea:
- The Canadian dollar has continued to weaken following Trudeau’s election, mainly on the back of declining oil prices.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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