Markets were in recovery mode, ahead of the FOMC interest rate decision, following losses to equity market to open the week. All eyes are on the Federal Reserve, which is forecast to leave rates unchanged, despite pressure from President Trump. European economic data continues to improve, but from very low lows. China is meeting with the USA for preliminary trade talks, as other Asian Countries work to cement trade agreements. The US Dollar was stable, with the EUR trading around 1.1350, while the GBP drifted to 1.3350.
Commodity currencies tread water ahead of the FOMC decision, with the AUD trading close to 0.6450, while the NZD cannot best 0.6000. All eyes remain on the Fed and awaiting any announcement of US trade agreements. China announcement more stimulative monetary and fiscal polices, to stimulate the economy and insure against the dire impact of US tariffs.
5/5 Australia Services/Composite PMI, Australian Inflation Gauge, US Services/Composite PMI, ISM Services PMI
6/5 NZ Commodity Prices, Australian Building Permits, China Services PMI, UK/France/Germany/EU Services/Composite PMI, EU PPI, US Trade
7/5 RBNZ Financial Stability Report, NZ Employment, Australia Manufacturing PMI, Japan Services PMI, German Factory Orders, France Trade Exports/Imports, France Current Account, EU Retail Sales, FOMC IRD, Bank of Japan Minutes
8/5 German Trade Exports/Imports, German Industrial Production, UK House Prices, Bank of England IRD, US Weekly Jobless Claims
9/5 China Trade Exports/Imports, China CPI/PPI
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