A couple of light releases as the countdown to the FOMC continues
Another day, another record close for US equities. Dip buyers continue to strut their stuff despite a supposedly more cautious start to the new week but the market seems to be settling in a steadier mood going into the Fed meeting tomorrow.
The dollar was weaker yesterday though, losing some ground across the board. But major currencies are keeping in a narrower range for now, trading little changed as we look to get into European morning trade today.
The Fed meeting tomorrow is the key risk event to look out for but be wary of month-end flows (Morgan Stanley argues USD may be favoured against all majors except NZD and CHF), as well as key earnings releases (Apple, Microsoft, Alphabet later today).
0800 GMT – Eurozone June M3 money supply
1000 GMT – UK July CBI retailing, total distributive reported sales
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.