The time has come to start fully shifting the focus away from any second-tier events and be locked and loaded for the real fireworks in the form of the FOMC outcome (4.30 AEST), including both the Fed statement as well as Fed’s Chairman Powell press conference. Will the Fed continue to deliver on the ultra-dovish expectations in line with its new regime of AIT (Average Inflation Targeting) policies? Volatility in FX, while awaiting the real risk event in the US afternoon, was quite decent, especially in the likes of the Oceanic currencies, both strengthening, spurred by better Chinese data where there is finally … (full story)