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DXY narrows gap on cycle highs ahead of the...>

FOREX
FOREX: DXY narrows gap on cycle highs ahead of the Fed
-While oil-tied currencies were the best performers, the greenback wasn't far
behind Monday as widespread weakness in EUR and GBP fuelled gains for the DXY.
The USD index is now just 0.75% shy of cycle highs printed on Sep 3.
-The volatile oil price held its gains for much of the session as Saudi Arabia
confirmed that Iranian weaponry was used in the attacks against its oil
installations, which supported NOK and CAD further throughout the trading day.
-A less-than-harmonious press conference was held with the Luxembourg PM after
his UK counterpart refused to join him due to noisy protestors. The Luxembourg
PM struck a somewhat hostile tone, stating that the old Brexit deal is the only
solution on the table, adding that Luxembourg will not do another extension for
the sake of it. This pressured GBP toward the bottom of the G10 pile Monday,
although Friday's lows remain unchallenged so far.
-RBA minutes, German ZEW survey and US industrial production data are the
calendar highlights Tuesday. There are a number of ECB speakers due, including
Villeroy, Lane and Coeure.
Energy BulletsCommodities
Energy BulletsCommodities

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