Daily thread to exchange ideas and to share your thoughts
Happy Fed day, everyone! Hope you're all doing well as we get things going here on the session. It's been a quiet start to the day as markets are gearing up for the FOMC meeting later, so there hasn't been much notable movement across major currencies.
The dollar is holding steady while we're seeing mild positioning flows in the aussie and kiwi ahead of the main event. Notably, AUD/USD backed off after having failed to challenge a break of the 100-hour MA and sellers are back in control now.
Meanwhile, gold continues to hug the $1,500 region as bond yields are looking more tepid alongside equities as markets are all keeping their attention on the Fed later today.
It's all about the countdown to the FOMC meeting now so expect a more sluggish session in the mean time during the European morning.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
