Fed previews:
Headlines:
Markets:
- CAD leads, NZD lags on the day
- European equities slightly higher; S&P 500 futures up 0.1%
- US 10-year yields down 2.1 bps to 4.185%
- Gold up 0.1% to $1,981.24
- WTI crude up 0.3% to $68.85
- Bitcoin up 0.2% to $41,169
It was a more tentative session as markets are waiting on the FOMC meeting later today before further committing to any moves this week. The dollar was steadier throughout, with USD/JPY keeping around 145.60-80 mostly while EUR/USD is little changed just under the 1.0800 mark amid large option expiries at 1.0790 on the day.
The pound was a decent mover though, with GBP/USD dropping from 1.2550 to 1.2510 after a softer UK monthly GDP data for October. That saw rate cut odds for March next year ramp up from 46% to roughly 68% currently, with UK bond yields also slumping to the weakest since May.
In other markets, equities were tentative after the gains from Wall Street yesterday while Treasury yields are just slightly lower with plenty still to play for later in the day.
It’s all about the Fed next before we get to more major central bank meeting decisions tomorrow in Europe.
Read More: ForexLive European FX news wrap: Pound drops, dollar steady awaiting the Fed