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It’s a testament to the success of the Federal Reserve’s post-crisis “Communication-as-a-Policy-Tool” philosophy that investors have “known” the outcome of this week’s Fed meeting (and likely the November and December Fed meetings as well) for weeks already.

Last week saw the Swiss National Bank offer absolutely no hints about the prospects of tightening in the foreseeable future. In contrast, Mario Draghi, the European Central Bank President, was quite bullish on Eurozone inflation outlook.

Political news has dominated today’s headlines on both sides of the Atlantic.

It comes after a meeting of OPEC and non-OPEC oil ministers in Algiers over the weekend, which concluded with a decision that there is no urgent need to boost crude output.

Geopolitical risk has been a dominant theme of 2018, with escalating trade tensions, Australia’s Prime Minister getting ousted, traders questioning the independence of Turkey’s institutions, and high-stakes negotiations around NAFTA and Brexit all grabbing headlines at various points this year. With traders focused on these day-to-day developments, ...

The biggest story this week was perhaps the easing of trade wars as China apparently blinked first in its dispute with the US.

Thanks to positive risk sentiment, consistent improvement in UK data and growing optimism over a Brexit deal, the GBP/JPY has risen about 900 pips from its low of just under 140 in mid-August.

The SNB was surprisingly relaxed about the currency’s recent strength, once again describing the franc as merely being "highly valued."

There was a central bank meeting today, but you’d be excused for not noticing.

The biggest story in the markets right now is that China seems to have blinked first in its trade dispute with the US. Global stock markets, led by China, and base metal prices have all staged a relief rally as a result.

The pound got another shot in the arm after the latest measure of consumer inflation was released this morning, which revealed a surprisingly strong reading for the month of August.

Last week, we highlighted the bearish head-and-shoulders pattern forming on the US Dollar Index (see “Dollar Index Head-and-Shoulders Pattern in Play After Weak Inflation Data” for more). With the euro making up nearly 60% of the dollar index, it’s not surprising that a similar, inverted head-and-shoulders pattern is forming on EUR/USD, as we’ll see...