The US dollar is regaining momentum after the Commerce department upgraded its first quarter GDP estimate from 0.7 percent to 1.2 percent.
There were no surprises from the Fed yesterday, so market focus now shifts to Vienna to see if OPEC and non-OPEC members officially extend last November’s production cut deal to support global prices.
US President Donald Trump’s global tour is being closely watched by the market and we will hear from two voting members of the FOMC today.
With no economic numbers come out of Canada or the US on Monday, markets will change focus to the Federal Reserve and the four FOMC member speeches.
The turmoil in Washington continues to be the main driving factor for markets with the potential testimony of former FBI Director James Comey on Wednesday-the biggest event risk for the greenback.
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