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Post-FOMC Impetus Dominates In Holiday-Thinned Trade

FOREX

Post-FOMC reverberations influenced G10 price action as regional participants reacted to the latest showing from Fed policymakers, who signalled that tapering asset purchases could start as soon as in November and be completed in mid-2022. This initial impetus moderated as the Asia-Pac session progressed, with the DXY pulling back from a fresh one-month peak.

  • The Antipodeans sold off in early trade and remained on the back foot. NZD/USD pierced the $0.6994/93 area, which limited losses over the last two days, printing its worst levels in almost a month.
  • Japanese markets were closed as the country observed a public holiday, which limited activity in the Asia-Pac timezone.
  • Central bank action picks up today, with the BoE, SNB and Norges Bank due to deliver monetary policy decisions. PMI data from across the globe, Canadian retail sales and U.S. jobless claims take focus on the data front.
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