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September 28, 2016
The U.S. Dollar halted a two day decline, strengthening against most of its G10 currency peers ahead of today’s slew of Fed speakers including Fed Chair Janet Yellen. The DXY gained 0.13% into the open amid the backdrop of improving risk sentiment though odds of a 2016 Fed rate hike dropped to below 50% from roughly 60% a week ago. European equities reversed some of yesterday’s losses as both Deutsche Bank and Volkswagon shares pared back losses meanwhile oil prices gained on indications that Saudi Arabia would be willing to compromise with local rival Iran, setting the groundwork for a potential future deal between the two regional powerhouses at the November OPEC meeting. Keep an eye on today’s long list of Fed speakers today; Yellen is scheduled to testify at 10am while Fed members Bullard, Evans, Mester and George are all scheduled to speak at various events today.

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