There is only one key risk event that matters today and that is the FOMC meeting.As such, everything up until then will very much be lacking in ter
There is only one key risk event that matters today and that is the FOMC meeting.
As such, everything up until then will very much be lacking in terms of any meaningful conviction or follow through, unless it is validated by the Fed. The overall risk tone is looking more tentative and the bond market is also reflecting some light caution.
Meanwhile, the dollar is little changed for the most part as traders are likely to wait on the Fed before committing to any sudden moves.
There might be room to maneuver in the session ahead but I wouldn’t read much into that. It is all about the Fed today and everything else is but a sideshow in the meantime. ICYMI, Adam had a comprehensive preview on the FOMC meeting earlier here.
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