Wednesday 31 January.

Yesterday's trade hit it's stop loss as choppy trading continues in the run up to the FOMC meeting.

The AUD is under pressure thanks to a soft CPI print, which brings into question when the RBA will consider cutting interest rates. On today's agenda, we have retail sales and inflation data from Germany, and ADP employment data from the US. but the main focus will be the FOMC meeting and press conference. And it's difficult to form a sustained conviction in the direction of the currencies until after the event. Therefore, my current 'decision' is to wait until after Mr Powell has spoken.

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