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The lead-in to the Asia session:
It was a session light on for news and data ahead of today’s
Federal Reserve Federal Open Market Committee announcement. The FOMC
is, basically unanimously, expected to kick off the rate hiking cycle
with 25bp and info on how the Bank intends to unwind their holdings
of Treasuries etc. There will be much more in the statement and Fed
Chair Powell’s presser, see bullets above for more detail.
- The
FOMC statement is due at 1800 GMT with Powell following at 1830 GMT.
On
the day here the price of oil moved up a little after its multi-day
downdraft. Regional equities took encouragement from the Wall Street
moves on Tuesday. The Nikkei and Shanghai Comp are little changed but
Hong Kong’s Hang Seng gained circa 2%
Across
FX there were gains against the dollar for EUR, AUD, NZD, GBP to
varying extents. Ranges have not been large though, and neither are
the net changes on the session.
BTC/USD
had a wild session, jumping above $41.65K and then giving it all
back, and some. Its left the market struggling for an explanation.