Looking at the top headlines This week’s key event is the FOMC’s (Federal Open Market Committee) monetary statement due later tonight. With the Fed expected to undergo one last rate hike for 2018, markets are largely focused on the FOMC’s policy statement, where investors will be looking for insight into how dovish the US Fed has turned, and whether or not the US Fed has fallen off of their planned 3 rate hikes for 2019. Today’s early Pacific session sees no data for the Aussie, and the Aussie dollar can be expected to continue trading weakly, with the majority of commodities remaining soft amidst fears of a global economic slowdown. Closer to home, data published by the ANZ showed that both the Activity Outlook Index and the Business Confidence Index in New Zealand showed strong improvements in December to provide a lift to the kiwi. Moreover, the broad-based US dollar weakness helped the pair continue to march higher. With Christmas holidays right around the corner, market volumes are also shedding rapidly, and market patterns could begin to get wobbly as market participants cash out for the holidays.