Important news to watch for today:
USD Consumer Price Index (YoY) (AUG) Expected 1.0% Previous 0.8%
USD Consumer Price Index Ex Food & Energy (YoY) (AUG) Expected 2.2% Previous 2.2%
USD U. of Michigan Confidence (SEP P) Expected 90.6 Previous 89.8
Gold is trading to the upside in today's session after it met support on Friday in the face of $1,306. The precious metal reacted positively to the level and bulls managed to bounce off the bottom. Price is now $1,316.
EUR/USD is trying to recover from the fall that occurred on Friday. The pair went from 1.1248 to a low of 1.1149 in one day. Today, EUR/USD is trading slightly up gravitating towards 1.1164. Have in mind that on Wednesday the FED is going to announce whether they are raising rates this month.
The EUR/USD is trading steadily in today's session as market participants anticipate the big decision on Wednesday. Low volatility can be expected in the couple of days before the FED decides whether they are raising the interest rate this month. CMP 1.1180.
GBP/NZD broke the support level and is now trading at an all time low at 1.7642. The pair is now very vulnerable to bearish attacks so if you want to open any longs, make sure you use either light volume or tight stops.
EUR/USD is trading to the downside on rumors that the FED is setting the stage for December rate hike. The pair is now 1.1133 and market participants are anticipating the FOMC meeting scheduled for 2PM Eastern today.
Japanese Yen falls as Bank of Japan introduces an updated QQE stimulus effort with new parameters aimed at controlling the yield curve. USD/JPY is now trading at 102.58, which is not that much of a significant change. Market participants are anticipating the FOMC meeting at 2PM Eastern.
EUR/USD is slightly up since yesterday's FOMC meeting when it became clear that the Fed is not raising rates this month. Market participants were not surprised by the decision so the market environment did not change much. CMP: 1.1234.
Gold is trading higher today after the Fed decided to leave rates unchanged. The precious metal reached a high of $1,337 and is currently trading at $1,334. First resistance is seen at $1,346.
EUR/USD is trading met resistance in the face of 1.1250 and then pulled back to lower levels. The pair is now 1.1212 and bulls need to try once more if they want to get to next target at 1.1310. On the other hand, bears need to stay in the descending channel if they want to continue being in the driver's seat.
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