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Ringgit Slips In Holiday-Thinned Trade


Another, Modest, Omicron Bid Kicks In


China Repo Rates Rise Friday

FOREX: Ranges respected ahead of FOMC
-The Asia-Pac session was a muted affair, with most majors sitting well within
recent ranges as traders sit on the sidelines ahead of today's Fed rate
decision, at which markets anticipate the third consecutive rate cut from Powell
and the committee. The greenback remains sandwiched between the 200- and
100-dmas, with focus turning to the outlook for further policy adjustments in
the face of expected economic weakness in the new year.
-Australian CPI was inline with expectations (0.5% Q/Q, 1.7% Y/Y), doing little
to deter the recent bounce and GBP/USD holds recent gains following the
confirmation of a December 12th General Election in the UK. Scandis sit at the
bottom of the pile, extending the weakness seen (particularly in NOK) Tuesday.
CHF is modestly firmer, but no major breakout just yet.
-Outside of the Fed decision, the Bank of Canada is seen keeping rates
unchanged. US ADP employment change and advance GDP for Q3 is also on the
docket. Outgoing ECB member Lautenschlaeger is due to speak as well as the
regular post-decision press conference from Powell.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |