What's Happening Today:
- Following a mixed close in Asia and a positive start of trading in Europe, the U.S.-based futures are lower heading into the open this morning. On the heels of the FOMC decision to leave rates unchanged and announcing intention to begin the unwinding of the balance sheet in October of this year, markets analysts are still somewhat mixed with respect to the near term and medium impact on various asset classes.
- Currency traders are monitoring the price action in the USD/JPY in the wake of the most recent Bank of Japan (BOJ) announcement that they are leaving monetary policy unchanged. Additionally, S&P Global downgraded the sovereign rating of China to A+ from AA-. The action was taken on the concern of the country's credit growth.
- Catastrophe analysts are continuing to monitor the path of Maria in the Caribbean as the storm has already ravaged Puerto Rico to what some analysts are estimating damages in excess of $30 billion.