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Key points of the Fed’s minutes: economic outlook has strengthened in recent months; annual inflation is anticipated to rise in coming months; significant boost of fiscal policy growth is expected over next few years. At the same time, trade wars tensions also were taken into consideration. According to the Fed, retaliation from other countries is a downside risk for the US economy. Moreover, a positive inflation data alone will not signal the change of the projected rate hike path.
However, traders assessed the minute as hawkish and the greenback rose.
WTI is trading near $66.70, Brent is below $72.
Note: the general forecast for oil has risen. Barclays increased their 2018, 2019 average Brent price forecasts: $63 in 2018, $60 in 2019 vs the previous forecast of $60 in 2018, $57 in 2019. Q2 Brent forecast increased to $68 from $62.
Trade wars are closer and closer.
Some words about currency pairs.
The EUR/USD pair could not break the pivot point at 1.2369 that would signal the upward movement. The pair turned around and now is moving down. The support is at 1.2342.
That is all for today. Follow markets news with us!
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