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  • The path for the Japanese Yen seems to favor the downside looking at a majors-based index. USD/JPY may rise within its Ascending Channel, but there is some scope for a healthy correction. Get your market update from @ddubrovskyFX here:https://t.co/7XFJiCYYEM https://t.co/KfLyB2t1jP
  • The British Pound’s recent slip lower against its major counterparts may prove short-lived. Key levels to watch for GBP/USD, GBP/JPY, GBP/CHF and EUR/GBP. Get your $GBP market update from @DanielGMoss here:https://t.co/Y48cF2qi9M https://t.co/ia3Bgq0ZTp
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  • The US Dollar faces its next key tests against ASEAN FX following gains in USD/SGD, USD/IDR, USD/PHP and USD/THB. Are the breakouts losing momentum? Get your market update from @ddubrovskyFX here:https://t.co/joPnWIcxEN https://t.co/4QAlUyD98V
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  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.07% 🇨🇭CHF: -0.24% 🇳🇿NZD: -0.36% 🇬🇧GBP: -0.41% 🇪🇺EUR: -0.50% 🇦🇺AUD: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/EK7xQumFxO
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.46%, while traders in GBP/JPY are at opposite extremes with 68.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/74GpZteOGK
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.15% France 40: 1.09% Germany 30: 0.92% Wall Street: 0.01% US 500: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CjZTVpoYZr
Strategy Video: Fed Decision Set to Trigger Dollar, Risk Response

Strategy Video: Fed Decision Set to Trigger Dollar, Risk Response

John Kicklighter, Chief Strategist

Talking Points:

• The FOMC rate decision due Wednesday at 19:00 GMT is not one of the quarterly updates with forecasts

• A broad, dovish shift by many of the largest central banks has leveraged the importance of the Fed's move

• Not only does a divergent hawkish view for the Fed present a Dollar lever, it can change global 'risk'

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

In the past few weeks, we have seen policy changes and data that have shifted the global view on monetary policy to a more accommodative / risk-positive course. While the ECB's new QE program, the easing of hawkish commentary from the BoE, surprise BoC rate cut and other changes reinforce a sense of central bank-derived financial stability and economic support; the Fed's complicity remains a vital ingredient to FX trends and the bearings of investor sentiment globally. The upcoming FOMC decision is not one of the quarterly events that offers updated forecasts for labor markets, inflation and interest rates. So, the market's assessment of the situation will be more finely balanced on rhetoric in the accompanying statement. What would a hawkish or dovish outcome look like? How will this event his the Dollar and broader markets? We discuss the FOMC scenarios in today's Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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