The focus is the USD, with a renewed bout of strength into the NA open. Oil prices have dropped on the back of the EIA outlook report. Fundamental data were light in the European and Asian sessions, leaving markets to focus on developing trends. Next week’s Fed meeting, a potential weakening CNY band widening and potential supply constraints for the ECB’s bond buying program. Today there are no Fed speakers, with data releases limited to PPI and Michigan Sentiment.
Read the full report: FX Daily