INTRO
The FOMC meeting minutes report will bring volatility to the markets, especially EUR/USD.
Investors are waiting for any signs of a slowdown in rate hikes.
The yield on the 10-year U.S. Treasury note was at 3.7483%, compared with Tuesday's close of 3.758%.
Fundamental Overview
Durable Goods Requests returned a value of 1%, compared to an estimate of 0.4% and previous data of 0.3%. While jobless claims have been confirmed at 240k, against an estimate of 225k and a previous reading of 223k. The focus will be on the release of the FOMC meeting minutes report and the possibility of a slowdown in rate hikes. What could bring relief to the market marks the start of a bull market rally.
MSCI's index of stocks across the globe rose 0.12%, despite falling 18% so far this year.
In Europe, the STOXX 600 company index rose 0.1%, with a cumulative decline of 10% through 2022. U.S. stock futures, known as the S&P 500 e-mini index, pointed to modest gains.
The broader MSCI index of the Asia-Pacific region, which excludes Japanese shares, was up 0.5% and up 12% so far this month. Hong Kong's Hang Seng gained 0.6%, while China's CSI 300 gained 0.1%.
The yield on the 10-year U.S. Treasury note was at 3.7483%, compared with Tuesday's close of 3.758%. The two-year yield was at 4.5269%, compared with a close of 4.517%, rising on traders' expectations that the Fed funds rate will rise.
Technical Overview
The bulls are attempting to break one of the pair's toughest resistances (200p EMA) as the market awaits the FOMC minutes data. EUR/USD has gained 10% since its nadir of 0.954 in late September. The RSI is at the 65 level, leaving room for a rally to the apparent 80s sell level. The MACD maintains a bullish tone amid a bullish rally at the bottom of a descending channel. Also, the pair remains above the round number level of 1.03 (61.8% Fibonacci). As long as there is no daily close below this level, the pair's bulls can try to look for the 1,053 level, with more bullish power and volume at the 1,077 level.
The FOMC meeting minutes report will bring volatility to the markets, especially EUR/USD.
Investors are waiting for any signs of a slowdown in rate hikes.
The yield on the 10-year U.S. Treasury note was at 3.7483%, compared with Tuesday's close of 3.758%.
Fundamental Overview
Durable Goods Requests returned a value of 1%, compared to an estimate of 0.4% and previous data of 0.3%. While jobless claims have been confirmed at 240k, against an estimate of 225k and a previous reading of 223k. The focus will be on the release of the FOMC meeting minutes report and the possibility of a slowdown in rate hikes. What could bring relief to the market marks the start of a bull market rally.
MSCI's index of stocks across the globe rose 0.12%, despite falling 18% so far this year.
In Europe, the STOXX 600 company index rose 0.1%, with a cumulative decline of 10% through 2022. U.S. stock futures, known as the S&P 500 e-mini index, pointed to modest gains.
The broader MSCI index of the Asia-Pacific region, which excludes Japanese shares, was up 0.5% and up 12% so far this month. Hong Kong's Hang Seng gained 0.6%, while China's CSI 300 gained 0.1%.
The yield on the 10-year U.S. Treasury note was at 3.7483%, compared with Tuesday's close of 3.758%. The two-year yield was at 4.5269%, compared with a close of 4.517%, rising on traders' expectations that the Fed funds rate will rise.
Technical Overview
The bulls are attempting to break one of the pair's toughest resistances (200p EMA) as the market awaits the FOMC minutes data. EUR/USD has gained 10% since its nadir of 0.954 in late September. The RSI is at the 65 level, leaving room for a rally to the apparent 80s sell level. The MACD maintains a bullish tone amid a bullish rally at the bottom of a descending channel. Also, the pair remains above the round number level of 1.03 (61.8% Fibonacci). As long as there is no daily close below this level, the pair's bulls can try to look for the 1,053 level, with more bullish power and volume at the 1,077 level.