Investors Expect Publication of the FOMC Meeting Minutes

Yesterday, the US dollar strengthened slightly against a basket of major currencies. The dollar index (#DX) keeps the current levels (+0.03%). In August, job openings exceeded again the number of unemployed in the United States, which signals the stability of the labor market. The indicator counted to 7.136M compared to market expectations of 6.945M. Today, investors have taken a waitandsee attitude before publication of the FOMC meeting minutes. We recommend paying attention to the comments by the Fed representatives.

The British pound moved in different directions due to the publication of ambiguous reports on the UK labor market. Thus, average earnings with bonuses increased by 2.7% in August instead of 2.6%. However, the number of jobless claims rose to 18.5K in August, while experts expected 4.5K. Investors expect the current information regarding the Brexit process. The euro weakened against the US dollar after the publication of the ZEW economic sentiment index in Germany, which counted to24.7 in October instead of12.3.

Oil quotes show positive dynamics. At the moment, futures for the WTI crude oil are testing a mark of $72.15 per barrel. At 17:30 (GMT+3:00) the US crude oil inventories will be published.

Market Indicators

Major US stock indices have recovered some losses: #SPY (+2.19%), #DIA (+2.21%), #QQQ (+2.91%).

At the moment, the 10year US government bonds yield is at the level of 3.163.17%.

Consumer price index in the UK at 11:30 (GMT+3:00);Consumer price index in the Eurozone at 12:00 (GMT+3:00);Statistics on the real estate market in the United States at 15:30 (GMT+3:00);Publication of the FOMC meeting minutes at 21:00 (GMT+3:00).

by JustMarkets, 2018.10.17