USD Trading Outlook (31-10-2013)
The Federal Reserve made no changes to either policy or statement at their overnight meeting and this caused a slight blip in the USD. The market had anticipated that the statement might be adjusted to be slightly more dovish. The other big event for the AUD was a large option expiry at .9500 during the NY session which guaranteed a 10 pip range either side for much of the night. The NZD has been quite volatile over the last 24 hours, dropping sharply on some Moody ratings headlines and rising after a more hawkish RBNZ. Australian business confidence and the BOJ rate decision are on today’s calendar.
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