- NZD/USD rallied to a daily high of 0.6730.
- US Dollar Index trades depressed sub 93.00 .
- US mid-tier data & FOMC’s policy announcements in focus.
NZD/USD moved sideways in the Asian session a touch below 0.6700 but picked up ahead of the US session. NZD/USD trades at daily highs near 0.6730, up 0.5%..
The USD trades under pressure boosting the pair.. Despite political uncertainty risk sentiment drove the financial markets undermining the safe haven USD S&P 500 futures trade 2% higher.The US Dollar Index is losing 0.66% at 92.85.
FOMC no change expected, US elections stay in focus
Weekly Initial Jobless Claims and the FOMC Interest Rate Decision and the Monetary Policy Statement will be in focus in the US session..
The FOMC is unlikely to provide any fresh insights into the policy outlook whilst the election result is unknown and its implications on the next round of fiscal stimulus.
Citibank said that they don’t expect any policy change or change to guidance from the FOMC, in the meeting immediately following the US election and following a substantial upward revision to Fed growth forecasts in September.