Traders brace for latest FOMC minutes as futures flat
Categories: Crypto News US
Following yesterday's remarkable U-turn in US stocks,which fell into the open only to recover all losses by EOD (except for the energysector which faced a steep path), futures trade declined overnight, leavingtraders at bay.
As of today's FOMC minutes, there has been a fluctuatingbetween profit and loss. Debate whether the impending recession is good news (more stimulusfrom the Fed) or bad news (stagflationary, tying the Fed's hands).
S&P futures were down 0.1% last, having traded on bothsides of the unchanged line for much of the past 12 hours while Europes Stoxx600 was much more excited and climbed the most since June 24. Thetwo- and 10-year US yield curve remained inverted as investors awaited theminutes of the Federal Reserves last meeting; the 10-year Treasury yield heldsteady around 2.81%.
The dollar rose for the fourth day following a fall in the eurowhile bitcoinwas trading at $20,000. In China, Shanghai began large-scale testing for Covid in ninedistricts after detecting cases in the past two days, raising concerns that thefinancial center may once again find itself locked in a search for a Covid zero.