European mid-morning: Markets keep steady ahead of the Fed

Author: Justin Low | Category: News

Major currencies not doing a whole lot in the European morning so far

EOD 30-10
The pound is seen leading gains as cable challenges key near-term resistance and offers around the 1.2900 handle, though so far price action remains contained around 1.2870-95 since the start of the session.

The franc is also pushing gains slightly as Spanish stocks are seen down sharply following Banco Santander's dismal Q3 earnings report. The IBEX is down by 1.1% on the session as such and may be in part helping to fuel some gains in the franc.

Other major currencies remain more composed with a mixed tone among other European equities and bond yields not seen moving much since Asia Pacific trading.

US futures are also keeping more flat as all eyes turn towards the Fed but do take note that we will get US Q3 advanced GDP data at 1230 GMT, so that may yet give markets a bit of a jolt before we hear from Powell & co. later today.

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