News and analysis

US dollar is in sharp focus as investors' attention turn to FOMC policy decision next and NFP data on Friday, after the ISM Manufacturing PMI and JOLTS jobs opening data disappointed expectations.

US stocks are pointing to a lower start in cautious trade ahead of the Federal Reserve interest rate decision. The Fed is expected to leave rates unchanged as inflation rose across the first quarter and as the jobs market remains resilient. ADP payrolls were stronger than expected. Fed jitters are overshadowing results from Amazon, which beat forecasts.

US dollar analysis: Attention turns to ISM manufacturing PMI ahead of Fed meeting later. The key question is how will the dollar react to the FOMC policy decision as most of the hawkishness is priced in, with more key data coming up on Friday? For now, Dollar Index technical analysis suggests the greenback may be heading further higher.

WTI Crude Oil takes a dive as market anticipations steer the wheel towards lower demand expectations

GBP/USD falls ahead of the Fed. USD/JPY pair extends its rebound ahead of the Fed & after Japanese manufacturing PMI data.

The US dollar has rallied on anticipation of a more hawkish Fed ahead of today's meeting. So we take a look at key levels for EUR/USD and USD/JPY.

New Zealand’s unemployment rate jumps more than expected despite a collapse in labour force participation, putting the Reserve Bank of New Zealand closer to cutting interest rates before the US Federal Reserve. NZD/USD fell sharply while AUD/NZD rose to new cycle highs.

A surprise rise in US wage pressures weighed on sentiment on the eve of the Fed meeting, sending the US dollar broadly higher, Wall Street lower as AUD/USD suffered its second worst day of the year.

US dollar traders will be watching Fed Chairman Powell’s press conference and any decisions about the central bank’s balance sheet runoff as potential market-movers for the US Dollar Index (DXY)