FX News Today
- Asian stock markets rallied after the FOMC, which boosted risk appetite.
- FOMC held policy steady and pledged to be patient with further interest rate hikes – a possible sign that the Fed is signalling a potential end to its tightening cycle.
- Topix and Nikkei climbed 1.08% and 1.06% respectively.
- US Equities firmed after Apple, Boeing, AMD results.
- German Retail Sales slumped 4.3% m/m at the start of the European session. It raised concerns about the health of the German economy.
- European futures are moving higher, in tandem with US futures, after a rally overnight.
- WTI crude +2.0% near $54.50 after small EIA build.
- USDIndex stumbled 0.45% to 95.40; EUR probed 1.15, JPY through 109.00.
Charts of the Day
Main Macro Events Today
- Eurozone Prelim. Flash GDP – Expectations – Overall Eurozone GDP should show growth holding at 0.2% q/q, but with risk to the downside.
- German and EU Unemployment Change – Expectations – A decline is anticipated in the German unemployment number of -4K. The December Eurozone unemployment rate is seen falling back to 7.8% from 7.9%.
- Canadian GDP – Expectations – GDP for November is on track to contract 0.1% in November (m/m, sa) as the sharp decline in oil prices materially impacted the economy.
Support and Resistance
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Andria Pichidi
Market Analyst
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