The main release from the US yesterday was the latest FOMC meeting minutes. Having said that, there were no real surprises from the minutes, as they generally supported sentiments expressed in January. Fed officials are still closely monitoring key market factors, including Trump’s trade negotiations with China, to inform their decisions in the future.
Aside from the FOMC meeting minutes, the only real release of note was mortgage applications up to 15 February 2019. They showed a rebound to 3.6% from -3.7% the previous week. The currency markets were quiet throughout the day.
Today is pretty busy for the US, with February’s services and manufacturing PMI readings scheduled for release. We will also see initial jobless claims up to 16 February 2019 and existing home sales for January. Finally, December’s durable goods orders will be released and are expected to climb to 1.5% this time around from 0.8% the previous month.
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