All eyes on FOMC minutes as traders look for signs of reduction in bond buying scheme
Trading Floor News August 21, 2013 3:23 PM
<p>All investors’ eyes are on the FOMC meeting minutes which will be released later on in the evening today. The main focus point here is […]</p>
The video cannot be shown at the moment. Please try again later.
All investors’ eyes are on the FOMC meeting minutes which will be released later on in the evening today.
The main focus point here is whether the US policy makers will start reducing the bond buying scheme, which is currently at the $85 billion a month level.
The Asian benchmark index declined to its lowest level in six weeks overnight while gold futures traded slightly lower, down 0.36% after 8am. Elsewhere the dollar has appreciated against the euro and pound sterling.
Back to Europe, the major indices did not show any clear trend this morning but all were trading cautiously. After 8am the DAX was down 0.1% at 8289, whilst the CAC opened up 0.4% at 4044.
In the UK the FTSE was trading 0.2% lower after the opening bell at 6441.
Again, we have a major economic event at 7pm today but it is worth following the markets throughout the day as expectations are high.
There is also the existing home sales report from the US at 3pm GMT.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.