Asian stock markets: Nikkei down 0.60 %, Shanghai Composite fell 0.40 %, Hang Seng declined 1.40 %, ASX lost 1.10 %
Commodities: Gold at $1137.90 (+0.90 %), Silver at $15.38 (+1.30 %), WTI Oil at $40.98 (-0.75 %), Brent Oil at $46.90 (+0.05 %)
Rates: US 10 year yield at 2.12, UK 10 year yield at 1.83, German 10 year yield at 0.62
News & Data:
Japan Tankan Index 17.0 (prev 14.0)
PBOC Fixes Yuan Reference Rate At 6.3915 (prev 6.3963)
Most Fed Officials In July Saw Conditions For Rate Hike Nearing – BBG
FOMC Minutes: Members 'Generally Agreed' More Info Needed To Hike
FOMC Minutes: Some Participants Not Yet Seen Evidence Inflation Moving To 2%
FOMC Minutes: One Member Indicated They Were Ready To Raise Rates In July
The US Dollar weakened after the release of the FOMC minutes, which were perceived as rather dovish. The Euro benefited the most from this, with EUR/USD rallying to a high of 1.1150. The reaction in the other major pairs was rather muted, with GBP/USD still trading below 1.57. USD/JPY fell to a low of 123.70 briefly after the release, but quickly recovered, almost reaching 124.00 earlier. Given that the minutes were not overly dovish, it is likely the 123.70-125.25 range will remain intact for a while.
Price action in the Aussie and Kiwi Dollar has been very quiet this week, partly because of the lack of economic data releases out of Australia & NZ. AUD/USD traded 0.7340-70 overnight (it started the trading week at 0.7370), while NZD/USD spent the Asian session in a 0.6590-0.6620 range (the week‘s opening level being 0.6540 here).