USD
At last, the final Fed interest rate decision of this year has arrived and it brings with it a sense of change. Naturally, I have discussed at length the potential ramifications of Powell's exit from the Fed in May of next year and how it will likely bring lower rates quicker, when Trump's nominee takes the reins.
USD isn't taking this well early today, with traders clearly feeling a sense of foreboding for the Dollar, despite the fact that USD has risen an average of 0.20% in the 5 days following 5 of the 6 last Fed meetings.
Powell has reason to be hawkish this time around too, strong jobs data in the last Non-Farm payrolls meeting and the general lack of data, owing to the Gov. shutdown, means that the Fed is making decisions in the dark.
Still, Fed members may be wanting to keep Trump onside or to ingratiate themselves to the likely dovish new broom incoming, potentially spelling Dollar weakness into the end of the year.
Markets Today
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Major Economic Releases (All times in GMT)
19:00 - Federal Reserve Interest Rate Decision