FOMC talk:
- Welcome to Fed day
- FOMC Preview - Watch out for these surprises
- Hawkish Fed or not? That will be the question
Headlines:
- Japan reportedly mulls tax breaks to boost yen repatriation
- UK April Nationwide house prices -0.4% vs +0.1% m/m expected
- US MBA mortgage applications w.e. 26 April -2.3% vs -2.7% prior
Markets:
- AUD leads, CHF lags on the day
- S&P 500 futures down 0.4%
- US 10-year yields down 0.5 bps to 4.682%
- Gold up 0.3% to $2,294.35
- WTI crude down 1.8% to $80.47
- Bitcoin down 4.7% to $57,792
It was a quiet session for the most part with European markets closed in observance of Labour Day.
Major currencies aren't up to much with the dollar keeping steadier mostly, holding in smaller ranges on the day. All eyes are on the coming US data as well as the FOMC meeting later. The USD/JPY focus continues with the pair keeping just under the 158.00 mark throughout the session.
Meanwhile, equities remain fairly nervous after falling at the end of April trading yesterday. US futures are down with tech shares leading the declines again.
In other markets, gold is finding a temporary base just under $2,300 after yesterday's plunge while oil is marked down to its lowest since March at $80.47 as geopolitical tensions fade. Bitcoin is one to watch as well as it comes under pressure amid a break below $60,000 on the day.
