Dollar Falls Ahead Of FOMC Decision
All eyes are on the FOMC meeting
with the Fed expected to raise interest rates by
25bp to 4.75% tomorrow.
Treasuries closed slightly lower as traders had only today’s $22 Bln government
auction of 2yr T-notes for guidance.
The US Dollar fell against the Yen, Euro and GBP. The Yen was today’s strongest
performer, recording solid gains across the board.
Gold closed sharply higher for the second consecutive day.
Three oil workers held captive by militants in Nigeria were set free over the
weekend but the good news was accompanied with a statement that attacks on oil
facilities will continue. Crude Oil and Unleaded Gas closed flat, while Heating
Oil and Natural Gas closed lower due to warm weather across the US.
In the softs, Sugar rose 2.04%, boosted by strong ethanol demand and Cotton rose
1.14%. None of the other contracts closed +/- 1% or more.
The grains were mixed, Corn and Soybeans closed higher, Wheat closed lower.
No economic news
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