We are heading into this week’s top event risk: the FOMC rate decision. The market consensus is for a fourth consecutive, 75 basis point rate hike; but that exceptional extension of a historical hawkish charge is likely baked in. So what should we focus on for this key event and what markets are most exposed?

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The New Zealand Dollar may rise against the US Dollar and Australian Dollar after the island nation’s third-quarter employment numbers beat estimates, underpinning RBNZ rate hike bets.

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US stocks erased strong morning gains and finished lower after better-than-expected US economic data triggered a jump in yields ahead of the Fed’s monetary policy decision on Wednesday.

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EURUSD continues to trend lower as traders await tomorrow’s FOMC rate decision.

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Rates markets are set on a 75-bps rate hike this week.

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