Dollar advances higher

The greenback edged higher against major currencies at the week's start,  driving the euro to 1.4612 and the  pound to 1.6136. As theFOMC meeting is coming up this week, traders will closely examine the Fed’sassessment of the economy in its policy statement.

Asinterest rates are expected to be put on hold at 0.0%-0.25%, itwill be fascinating to observe whether the Fed will supply clues about  whenmarkets should expect quantitative tightening to begin. The Fed willannounce the results of its policy deliberation on Wednesday at 2:15 PM.

Monday's economic calendar was light, with only the August leadingeconomic indicators released. The amount failed in its expectations foran improvement to 0.7% and is held fixed and stable from the previous month at 0.6%.The Tuesday session will behold the September Richmond Fed survey and Julyhome prices.

The US equity market was mixed with the Dow Jonesand S&P 500 both moving slightly lower, down by 0.4% and 0.3%,respectively, as the Nasdaq increased by 0.2%. In the meantime, crude oil slipped below the $70 per barrel level to $69.70 and spot gold  was held stable just beyond $1,000 per ounce.