Start Trading Now Get Started
  1. DF
  2. Forex News
  3. Forex Today: Market Awaits FOMC Meeting Minutes
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Market Awaits FOMC Meeting Minutes

By Adam Lemon
Adam Lemon
By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Markets are awaiting the release later today of the minutes of the most recent FOMC meeting, in the hope it will explain why the Fed expressed concerns about lingering inflation.

   

  1. The FOMC meeting minutes will be released later today. It will be closely read for clues about inflation concerns, as inflation has been falling over recent months. Dovish language on inflation could cause the US Dollar to sell off as it would make the pace and amount of rate hikes be likely to lessen.
  2. For the fourth day, the Bank of Japan announced unscheduled and unlimited bond purchases. This sent the Yen a bit higher after its losses yesterday.
  3. In The Forex market, there was a strong spike in favour of the US Dollar yesterday during the London session, probably due to start of year flow. There is a long-term trend against the Dollar, and it can be expected to resume now as momentum again seems to be shifting against the greenback.
  4. The long-term bullish trend in precious metals continues, with the price of spot Gold rising and threatening to make another 6-month high. The price of spot Silver is also bullish, but less so. Both Gold and are attractive to long-term trend traders in the long direction right now, as higher prices here are likely over the coming days.
  5. In the Forex market, the Australian Dollar is currently the strongest currency while the Euro and the British Pound look to be the weakest. The USD/JPY currency pair and the EUR/USD currency pair remain within valid long-term trends, and trend traders will be looking to trade both major currency pairs.
  6. There will be a release of Swiss CPI (inflation) data today.
  7. In the USA, there will be releases of US ISM Manufacturing PMI data and US JOLTS Job Openings data.
  8. Daily new global coronavirus cases fell last week for the first time in two months.  
  9. It is estimated that 69.1% of the world’s population has received at least one dose of a coronavirus vaccination.
  10. Total confirmed new coronavirus cases worldwide stand at over 666.1 million with an average case fatality rate of 1.01%. The number of new cases has fallen globally over the past 2 weeks.
  11. The rate of new coronavirus infections appears to now be significantly increasing only in China, the Philippines, and Taiwan.  
Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

Most Visited Forex Broker Reviews

Latest News

View More Articles

Related News

View More Articles

Top Forex Brokers

More »

Bonuses & Promotions

View All