No News Is Bad News for USD – MM #71

The meeting minutes from the Fed didn’t show the decision was close and that was bad news for the greenback. After starting with the minutes and other central bank reactions, we move to rising oil (certainly correlated) and the upcoming events – China is back.

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  1. FOMC Minutes rundown: We didn’t hear anything that we didn’t know in the meeting minutes, but we certainly had a strong market reaction and it wasn’t supportive for the greenback. We digest the news and what it means going forward, towards the decision in December.  Commodity currencies certainly benefited and other central banks are certainly watching.
  2. Rising oil prices: The black gold is on the rise, and not only Fed related. We discuss the moving parts, supply, demand and speculation of course.
  3. Preview: China returns to the scene after the vacation, retail sales in the US and lots more. Will we see commodity currencies reverse their course?

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