Mixed performance from USD pre-FOMC, with gains vs. majors & losses vs comm-dolls. This comes despite yesterday's strong retail sales report. By observing the performance of risk assets (equities, Jpy currencies), it seems that the market is still less convinced of a FED hike this week. If this were the case, expect much more USD weakness. I have recently been tracking Aud to the long side, and although volatile, it seems to continue to attract interest in these conditions.
NZD gains on the third strong dairy auction in a row. Don't buy into this short term strength just yet though. RBNZ has been one of the most dovish central banks recently and between dairy prices and monetary policy, there's no doubt which weighs more.
Big data day today for Gbp, Euro & Usd so it may prove to be another volatile session pre-FOMC.
Charts for today:
Nessun commento:
Posta un commento