The dollar traded mostly lower versus majors ahead of the FOMC statement today at 2:pm US. Most FX markets traded a lackluster session awaiting the Fed news today and the ECB press conference tomorrow. Global markets await the decision by US President Trump on the DEC 15 looming tariff increase on Chinese imports, set to carry a 15% tax on 160 billion of Chinese imports to the US. Global markets traded sideways in a very narrow and low volume trading day, EURSXX50 closed lower 0.01% and the Nasdaq lost 0.07%. Metals traded higher on a weaker dollar, Gold closed at $1,469 per ounce and Silver closed up 0.5% at $16.63 per ounce. Oil traded mostly sideways as well, awaiting the Inventories numbers today in the afternoon and looking ahead at the proposed OPEC+ production cuts and the US China trade deal. Oil closed marginally higher yesterday, at $59.28 per barrel.
US CPI at 1:30 pm, Oil Inventories at 3:30 pm and the FOMC Statement at 6:00 pm are the important news on the agenda Wednesday. (all times GMT).
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Global markets FLAT ahead of the array of big news starting today with the FOMC statement at 2:00 pm US.
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