Markets were range bound ahead of Central Banks - ANZ

Analysts at ANZ explained that markets were understandably range-bound ahead of the BoJ policy meeting (today), FOMC meeting and statement (Thu), BoE meeting (Fri) and White House announcement of its Fed Chair nominee (Fri). 

Key Quotes:

"‘Continuity’ and ‘transition’ are probably the two words that best describe expectations around the spectrum of monetary policy events this week, with Jerome Powell the strong favourite to be the White House’s nominee for the Fed Chair. 

US markets nonetheless traded defensively with the S&P 500 and Dow off 0.3% and the yield on the US 10-year note down 3bp at 2.37%, hit by Mueller inquiry arrest headlines and talk of phased-in rather than big-bang corporate tax cuts. 

European equities were mixed, with the DAX up 0.1% and FTSE 100 off 0.2%. WTI was 0.3% firmer at USD54.05/bbl and gold was up 0.3% at USD1277.2/oz at the time of writing."