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    MORNING BELL: All eyes on FED

    The Australian Dollar got a slight boost after the inflation data (CPI q/q) came out slightly better than expected on Wednesday. AUDUSD jumped up more than 40 pips during the news hitting a session high of 0.70396 shortly after. The New Zealand Dollar is little changed since it recovered from Fitch’s credit rating which was lowered from positive to stable late on Tuesday. The Reserve Bank of New Zealand is due to meet and release its official rate statement at 20:00 GMT on Wednesday, with the majority of experts seeing a ‘hold’ on the rate decision.

    Apple is faced with its first drop in sales and revenue in thirteen years with a reported earnings on $3.28 per share. Investors worry that the company’s expanding growth is coming to an end as it is faced with the slowest increase in iPhone shipments. Furthermore, there is no breaking-through idea coming up any time soon that would set Apple in the spotlight again and rekindle the iPhone excitement. AT&T’s fourth quarter revenue growth also fell short of expectations due to tougher competition during the past year. Wall Street in general though rebounded with more than 1% yesterday driven by the oil prices.

    Oil has been down around 2% early on Wednesday moving back towards $30 after rising almost 4% on Tuesday. Crude Oil Inventories data is coming up at 15:30 GMT on Wednesday, however the focus for the day is on the FOMC Statement and Rate decision due at 19:00 GMT. The US Dollar and the Asian session in general have been pretty quiet as everyone awaits the Fed statement and any dovish hints. The Central Bank is expected to keep rates on hold but investors are awaiting to hear the projections and economic outlook given the bumpy start of 2016.

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