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USDCAD Resisting Modest Broader USD Weakness

LATAM FX

Price Signal Summary: USDCLP Heading South

EQUITIES

Europe push through the lows, while US holds

US TSY FUTURES

BLOCK, Large 2Y Buy

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US VIEW
US VIEW: Traders eye 2pm ET FOMC meeting outcome, widely expected to have 25-bp
rate hike; also eyed SEP,d 2:30pm ET Chr Yellen news conf. 
- JPM's Michael Feroli expects FOMC will raise FFR tgt range 25bps to
1.25-1.50%, "the overwhelming consensus expectation" so "more interesting" news
what FOMC signals on 2018 pol outlk; Sept: median FOMC comm participant expected
3 hikes next yr;" he eyed "even odds" this "increases to 4 expected hikes." 
- JPM's Feroli said FOMC SEP economic forecasts Wed likely "show a lower
unemplynt rate than the September projections, and a generally firmer outlook
for GDP growth." He said  "both revisions should be directionally supportive of
a somewhat faster rate normalizatn path;" did not anticipate much change to FOMC
statement on econ or mon pol; "finally, the monthly caps on the amount of
balance sheet shrinkage should be increased $10B/mo" starting in Jan, as said in
pvsly announced sched.
- Gluskin Sheff's David Rosenberg: "Will Fed become more aggressive?" He added
"many at the central bank are getting antsy over the tight labor market and
financial imbalances."
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