News

Cracker Barrel reported fourth-quarter earnings after the bell on Wednesday.

The Bank of Japan (BOJ) is expected to leave interest rates unchanged at its policy meeting on Sept. 18–19, according to the Nikkei. The central bank will likely keep its overnight call rate at 0.5%, where it has stood since January’s quarter-point hike. That would mark the fifth consecutive meeting without a move.

Board members broadly agree that it is premature to raise rates, and markets also anticipate no change. Policymakers are monitoring the impact of recent U.S. tariffs, particularly on exporters like automakers, and how this affects wages, investment, and Japan’s economy. Deputy Governor Ryozo Himino recently warned that tariff risks may be greater than previously assumed and warrant close attention.

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Little market surprise is expected;

• yen reaction likely muted unless BOJ signals tariff-driven downside risks
• for Japanese equities, exporter shares may stay cautious as automakers reassess guidance under tariff pressure
• for fied interst, steady BOJ policy reinforces divergence with Fed; global yield spreads remain in focus.

This article was written by Eamonn Sheridan at investinglive.com.

The Euro (EUR) is soft, down a modest 0.3% against as it trades somewhat defensively with a slight pullback from Tuesday’s fresh multi-year high, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is soft, down a marginal 0.1% vs. the USD into Wednesday’s dual BoC/Fed rate decisions, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro has given away some of Tuesday’s gains on Wednesday.

Gold is trading lower on Wednesday, weighed by generalised USD strength, as investors cut short Dollar positions ahead of the Fed’s decision. The Precious metal turned lower from the $3,700 record high, with bears contained above the $3.6660 area so far.

New Zealand economic growth data is expected not to impress. Q/q is estimated to have declined and while y/y should improve from Q1 flat is expected. The New Zealand dollar was shunted around overnight by the Federal Open Market Committee (FOMC) and the response.

Later is the job data from Australia for August. Unlike the Fed the Reserve Bank of Australia is not concerned too much on the labour market right now. There is some slowing but unemployment is expected to remain steady.

This article was written by Eamonn Sheridan at investinglive.com.

US Dollar (USD) could drop to 7.0980 before stabilisation is likely; a sustained drop below this level appears unlikely.

India M3 Money Supply dipped from previous 9.8% to 9.5% in September 1

The US Dollar (USD) is showing signs of stabilization heading into Wednesday’s FOMC, with modest gains against most of the G10 currencies as it attempts to claw back a portion of this week’s losses, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.