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Greenback soft ahead of FOMC - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained that the dollar ended lower across the board.

Key Quotes:

“Particularly hit against commodity currencies since early European session, with both CAD and AUD surging to fresh multi week highs”.

“As for European ones, the early session was extremely quiet ahead of US data, which ended up being quite mixed: first strong reading saw Durable Goods Orders missing expectations by far printing a whopping -1.3% for September, and triggering a dollar sell off across the board”.

“1 hour later US consumer confidence soared to a seven year high of 94.5, yet market players decided it was enough: there was almost no reaction across the forex board to this latest news, except a mild advance in USD/JPY>”.

“All eyes turned now to the FED monetary policy decision upcoming Wednesday, expected to trim the last $15B of QE and keep the wording unchanged”.

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