Market sentiment up after Fed minutes leave door open for December rate hike

Market sentiment is up after hints from the US Fed on Wednesday in the FOMC minutes that it was still receptive to lifting rates next month.

Hong Kong’s Hang Seng was up 1.2 per cent, Australia’s S&P/ASX 200 was up 1.4 per cent and Japan’s Nikkei 225 was up 1 per cent. In mainland China, the Shanghai Composite was flat the Shenzhen Composite was up 0.7 per cent.

In currencies:

JPY
• USD/JPY on back foot, USD heavy post-Fed minutes, BoJ also stands pat.
• USD/JPY 123.77 high on Wednesday, 123.65 early to 123.09
• EUR/JPY 131.28 late NY, 131.68 early Asia to 132.26 before easing back.

EUR
• EUR/USD opens Asia at 1.0659, good lift post-Fed minutes, action whippy.
• 1.0617 but then 1.0670+, December hike but forward guidance dovish.
• EUR/USD remained bid in Asia, long USD positions pared, 1.0657 to 1.0719.

GBP
• GBP/USD bid on broad USD weakness, Asia 1.5228 to 1.5295, USD longs pared.
• GBP/USD back above flat 1.5269
• EUR/GBP slightly better bid in Asia, 0.6995-0.7007, off o/n 0.6982 low.

CHF
• USD/CHF on back foot on heavy USD, Asia 1.200 to 1.0149, uptrend intact.
• Support at ascending 1.0152
• EUR/CHF bid, Asia 1.0866-86, back in narrower 1.0859-90 Ichi cloud.

AUD
• AUD/USD opened in Asia at 0.7110, trades up from 0.7103 to 0.7077.
• Sideways before large short-covering flows, illiquid NZD/USD leads
• Fed December hike but dovish forward guidance, EM currencies rally.

NZD
• NZD/USD New York close 0.6473, bid, Asia 0.6468 to 0.6545.
• USD under sustained pressure as longs pared in wake of Fed minutes.

The post Market sentiment up after Fed minutes leave door open for December rate hike appeared first on FXTM Blog.

Source:: Market sentiment up after Fed minutes leave door open for December rate hike

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