Market Brief November 22nd: FOMC meeting minutes

22 November, 2017 - 07:47AM

United States

USD, 13:30 p.m. GMT, Core Durable Goods Orders (MoM) (Oct)- the index measure the change in the total value of new orders for long-lasting manufactured goods with the exception of transportation items. The index (from its name “Core”) derives a purer picture of manufactured goods as it doesn’t include more volatile items such as aircrafts that might eschew the number. Expectations are for a lower change in October at 0.5% versus 0.7% for the previous month. If the actual result is higher than expected, this should increase the value of the dollar. A weaker than expected performance should be seen as a negative sign.

OIL

USD, 15:30 p.m. GMT, Crude Oil Inventories- Projections are for a decrease of inventories at -2.167 M barrels versus 1.854M. If the change in inventories over the week show that supply has been cut, this should be read as a bullish factor for the crude commodity. On the other hand, if supply has increased, this should be seen a negative, i.e. bearish impact on the price of oil.

USD, FOMC Meeting Minutes, GMT –that is going the be the driver of significant volatility during the day. Traders should be careful as we might witness wide-span movements in both directions across the board.

 

Wishing you Happy and Successful Trading!

 

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