Global equities traded lower yesterday
Ichimoku Kinko Hyo AUD/JPY: The AUD/JPY pair is now trading on the Kijun sen level…
Risk On Remains Intact Ahead of FOMC
Information is not investment advice
Midday Market View
The Federal Reserve are facing a tricky situation. The US election is approaching which should result in the Fed staying put. The recent sell off in tech stocks is unlikely to be a concern just now, so cannot see the Fed stepping into back that up. A surprise build in inventories, shutdowns in the Gulf of Mexico, and dollar weakness are all helping US oil higher.
Midday Key Point
- EU Commission head supports that is not the time to withdraw fiscal support
- EURUSD holds an ascending trend line ahead of FOMC
Michael Eliades
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Ichimoku Kinko Hyo AUD/JPY: The AUD/JPY pair is now trading on the Kijun sen level…
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A combo of strong demand and poor supply has sent oil prices to the high unseen since 2018. Gas is at record highs as well.
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