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Sentiment was off to a mildly positive start ahead of Wednesday’s Fed meeting, with index futures edging higher and Chinese equities leading the way.
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AUD and NZD are today’s strongest majors whilst JPY and USD are the weakest. AUD/USD is back above 71c and sitting at a 2-week high.
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Exports from Japan contracted by -1.2% versus -0.9% forecast, as global growth and trade woes continue to bite. Having now fallen for three consecutive months, this is the longest streak of negative annual returns since November 2016.
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Gold is back below $1300, trading in a narrow range after Friday’s bullish inside day. US10Y remains below 2.6%, DXY is stuck near Friday’s low around 96.50whilst WTI trades cautiously near its highs, after finding resistance at its 200-day eMA and producing two daily spinning top doji’s last week.
