A busy day for markets yet again, with the main focus of markets being the US Fed Reserve’s monetary policy meeting in the early hours of tomorrow morning.

The world watched as US President Donald Trump addressed the UN General Assembly. In a speech that went for almost an hour, it was a wide-ranging speech that outlined the President’s focus on the US, conflicts around the world and also the bureaucracy and mismanagement of the UN itself. In what was at times a brutal speech, Trump took aim at North Korea, Iran and the Syrian government. Trump went as far as saying that North Korea will face total destruction if the regime in that country refused to stop its nuclear program and started attacking other countries. The President said the US was well within its right to defend itself and its allies if attacked.

The EUR/USD entered back into the $1.20 range as investors await tomorrow morning’s Fed decision. It has retreated back slightly, but still in the high $1.19 range, where it currently sits at $1.1992. The pound remains stubbornly strong against the USD, currently at $1.3514. The Fed meeting may cause fluctuations in USD side of the currency pairing.

All three major stocks ended higher overnight, with markets predicting less chance of the Fed raising rates at this meeting. Wall St likes lower rates as it is easier to lend/borrow money. The Dow posted its 41st record close of the year, up 39.45 points to 22,370.80. The S&P 500 and NASDAQ also posted modest gains, up 2.78 points and 6.68 points respectively. S&P 500 ended the trading session at 2,506.65 while the NASDAQ finished at 6,461.32.

Looking at announcements today, besides the Fed meeting, the other piece of significant information is the UK Retail Sales data. This has the potential to move the GBP/USD pairing, depending on results.

The other releases today include:

Australia – MI Leading Index, RBA Assistant Governor Luci Ellis speaks

Europe – German PPI and Swiss SNB Quarterly Bulletin

US – Existing Home Sales and Crude Oil Inventories