Investors Expect Publication of the FOMC Meeting Minutes

Yesterday, the US dollar weakened against a basket of currency majors. The dollar index (#DX) updated local lows and closed in the negative zone (-0.45%). At the moment, the US currency is being traded without a clear dynamic, as financial market participants took a wait-and-see position before publication of the FOMC meeting minutes. Earlier, the Fed said it would not hasten to increase the interest rates in the current year. Also, investors are closely monitoring the negotiations between the US and China. According to the US President, the negotiations are succeeding, despite the fact that the United States has previously accused China of unfair trading practices. In turn, the representatives of China demanded that the US respect China's right to development and prosperity.

It became known that the British Prime Minister went to Brussels with the intention to renegotiate Brexit deal. The insurance policy will be the key issue, which will prevent extensive border controls between the EU member state Ireland and the British province of Northern Ireland. In general, this news has improved investors’ sentiment, and the British pound has strengthened significantly against the US currency despite the weak economic statistics. Thus, the average wage level, including bonuses, fell to 3.4% in December instead of 3.5% in the UK. The number of jobless claims rose to 14.2K in January, while experts expected 12.3K.

The "black gold" prices are moving in different directions. At the moment, futures for the WTI crude oil are testing the mark of $56.50 per barrel.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.17%), #DIA (+0.06%), #QQQ (+0.20%).

The 10-year US government bonds yield is at 2.64-2.65%.

- publication of the FOMC meeting minutes at 21:00 (GMT+2:00).

by JustMarkets, 2019.02.20

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.