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17 Sep 2013
Session Recap: USD weaker as FOMC meeting gets underway
FXstreet.com (Córdoba) - The USD trades mostly lower on Tuesday, although within recent ranges, as the 2-day FOMC meeting gets underway.
It is expected that the Fed will announce its intention to trim $10bn from its monthly bond-buying program tomorrow. As most of this has been already priced in, any deviation on this figure could trigger wild moves, with Fed's forward guidance becoming key at this point.
The EUR/USD was boosted by better-than-expected German ZEW figures, although it lacked momentum to rise beyond 1.3370. The GBP/USD and the USD/JPY are little changed on the day around 1.5900 and 99.00 respectively, while AUD/USD and NZD/USD trade higher, despite RBA minutes.
Main Headlines in Europe:
Markets focussed on FOMC on the European open, USD slides
EMU: Current Account surplus narrows to €16.9B in July
Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Dollar under pressure ahead of FOMC meeting, EURUSD continues gains
UK: Annual CPI at 2.7% in August, as expected
UK: Retail Prices rose 3.3% YoY in August
EMU: ZEW Survey-Economic Sentiment rose to 58.6 in August
EMU: Trade surplus rose to €18.2 billion in July
UK inflation continues to outstrip wages, GBP/USD pares gains on data
Euro given a boost by big ZEW Institute number, adds to gains against USD and JPY
It is expected that the Fed will announce its intention to trim $10bn from its monthly bond-buying program tomorrow. As most of this has been already priced in, any deviation on this figure could trigger wild moves, with Fed's forward guidance becoming key at this point.
The EUR/USD was boosted by better-than-expected German ZEW figures, although it lacked momentum to rise beyond 1.3370. The GBP/USD and the USD/JPY are little changed on the day around 1.5900 and 99.00 respectively, while AUD/USD and NZD/USD trade higher, despite RBA minutes.
Main Headlines in Europe:
Markets focussed on FOMC on the European open, USD slides
EMU: Current Account surplus narrows to €16.9B in July
Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Dollar under pressure ahead of FOMC meeting, EURUSD continues gains
UK: Annual CPI at 2.7% in August, as expected
UK: Retail Prices rose 3.3% YoY in August
EMU: ZEW Survey-Economic Sentiment rose to 58.6 in August
EMU: Trade surplus rose to €18.2 billion in July
UK inflation continues to outstrip wages, GBP/USD pares gains on data
Euro given a boost by big ZEW Institute number, adds to gains against USD and JPY