FOMC meeting minutes to be released, USD bracing for volatility

Today’s highlights: FOMC meeting minutes to be released, USD bracing for volatility
·         The Federal Reserve is due to release minutes from today’s FOMC meeting of 2017 at 18:00 GMT. Even without any indications of an interest hike, investors and currency traders are expecting some degree of volatility for the USD today.


·         The monthly ADP NFP report will be released at 12:15 GMT today: The provided data is used to gauge the result of the NFP report (released on Friday), by showing a figure of the newly employed workers in the past month. This, much like the FOMC minutes, can also be reflected in potential volatility for the USD.


·         First Class Deal: Boeing Co. has signed a $3 billion contract with an Iranian airline company for 30 737 MAX aircrafts. The news caused the stock to spike just over 1.15% in yesterday’s trading.


·         Oil gushes ahead of Trump-Xi meeting: Commodity traders have their eyes set on Thursday, when the Presidents of the two biggest superpowers will meet to discuss future economic opportunities. Oil went up 2% yesterday and is not showing signs of stopping. Moreover, crude oil inventories are to be released at 14:30 GMT today, so be prepared for short term volatility in oil price.


·         Lights out for GoPro: The company which reinvented the way we capture life is going through major layoffs while it’s trying to create a new future and business model for itself. GoPro’s stock crashed over 2% yesterday, as more and more analysts are starting to whisper “sell”, including Tavis McCourt from Raymond James.


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