The SPX 500 is pointing to a higher open after a week’s worth of declines. Today’s economic event will be the Beige Book, where many will try to determine whether US interest rates will be raised anytime soon. Signs of higher interest rates should help the USD rally. If we have no signs of higher interest rates and more QE, the USD may decline.
The AUD/USD is currently trading above 1.03 (as of 9:15am EST). Tonight we have the AUD Unemployment rate that will lead to volatility. Remember to maintain a broad focus into next week’s monetary meeting to see if rates will remain the same or be slashed.
