Article / 20 September 2017 at 11:13 GMT

Mid-session Europe: The calm before the FOMC storm

Saxo Markets
Denmark
  • NZD curve moving lower
  • USD's losses are gold's gains
  • FX crosses in tight ranges

Federal Reserve
Fed in focus. Photo: Shutterstock

By the Global Sales Trading team

  • European equities mixed ahead of FOMC meeting (announcement due at 1800 GMT). 
  • Interest rate decision, press conference by Fed chair Janet Yellen are the main focus areas of the day. Investors expect details on the Fed’s plans to shrink its balance sheet.   
  • UK August retail sales beat expectations, posting a 1.0% gain versus 0.2% expected (month-on-month) and 2.8% versus 1.4% expected (year-on-year).
  • Germany’s ThyssenKrupp and India's Tata Steel are said to agree on a joint venture that would create the number two steelmaker in Europe. 

Please click on the attached PDF for the Saxo Bank Global Sales Trading team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.
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Mid-session Europe: September 20, 2017

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