FOMC minutes ahead

As the FOMC meeting minutes approach, the USDJPY continues to have support near the 113.00-04 area (see earlier post).

The price action in the NY session moved to a low of 113.06. The failure to keep the momentum going above the topside trend line led to sellers in the NY morning session. However early buyers against the trend line stalled the fall.

Let's see what the FOMC meeting minutes have to say. If there is a little dip, watch the area for buyers to re-enter.

A snapshot of other markets before the minutes shows:

  • Spot gold at $1223.61, up $0.35
  • WTI crude is at $45.24 near the low for the day at $45.12
  • The US stocks are mixed. The Dow is down fractionally (-3.50 points). The S&P is up 2.61 points or 0.11%. The Nasdaq is up 38 points or 0.62%
  • US yields are down. 2 year is at 1.406%. 10 year is at 2.33%. 30 year is 2.856%