Daily thread to exchange ideas and to share your thoughts
Happy Fed day, everyone! Hope you're all doing well as we get things going here on the session. It's been a relatively quite start to proceedings with markets looking cagey in anticipation of the main event in US trading later today.
The aussie is leading gains after better-than-expected inflation data though it should matter little in the grand scheme of things in my view. The loonie is also a little higher on the back of more solid oil prices while the kiwi has recovered part of its earlier drop from weaker business survey data once again.
Looking ahead, it's all about the Fed today and that will be the key driver for markets not just as we look to wrap up the week but also for the coming weeks as well.
I reckon the Fed will leave some clues that this could be a "one and done" scenario but at the same time also signal that they could ease further if need be and should they see it fit to do so. After all, the Fed always punts.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.