A full preview of today’s FOMC decision: the timeline, what changed since July, and the market impact scenarios.
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USD/JPY is back in focus as BOJ hike odds climb and traders weigh the durability of Japan’s earlier currency intervention.
Gold is holding near its 50-day average, pulled between safe-haven demand and rising rate expectations ahead of the Fed decision.
The dollar extended its fourth straight gain as markets priced in higher odds of a Fed rate hike this week.
Houthi strikes on Saudi Aramco facilities pushed Brent crude near a barrel, its highest since late July, days ahead of the critical August CPI report.
Fed Governor Waller said he’s inclined to support holding rates steady in September, pulling hike odds back to a coin flip ahead of the August CPI report.
The yen jumped nearly 2% to a one-month high as BOJ Governor Ueda’s hawkish comments and intervention speculation locked in September rate-hike bets.
August nonfarm payrolls rose 162,000, far exceeding forecasts of roughly 56,000, giving the dollar a fresh boost ahead of the Fed’s September decision.
Fed Chair Warsh’s hawkish Jackson Hole speech pushed September rate-hike odds above 50/50, lifting yields and the dollar while gold fell.
The US Treasury unveiled sweeping new sanctions targeting over 60 individuals and entities to isolate Iran’s economy, boosting the dollar on safe-haven demand.