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Wall Street to open on a cautious note ahead of Fed minutes

FXStreet (Mumbai) - The action in the US index futures indicates that Wall Street may once again start the day on a cautious note, as investors await the Federal Reserve (Fed) minutes.

The DJIA futures traded 14 points lower at 17,624.5 at the time of writing, while the S&P 500 futures weakened 2.05 points to trade at 2046.45 and the Nasdaq 100 futures are moving down 1.20 points. Earlier today, the Asian stock markets traded mixed while the European stock markets are modestly higher.

On the macro front, the US commerce department said the building permits in October rose 4.8%, blowing past the market expectation of a 0.9% rise. Meanwhile, the housing starts fell by 2.8% last month. The market attention now shifts to the Fed minutes, which are likely to be in line with the slightly hawkish policy statement released on Oct. 28th.

Will FOMC minutes stray from the beaten path? - MP

Dean Popplewell, Director of Currency Analysis and Research at MarketPulse, expects FOMC to make some noise as the market remains overtly bullish on USD.
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AUD/JPY retreats to 101.30

AUD/JPY failed once agains to hold above 102.00 and pulled back. The pair is falling modestly on Wednesday, weakened by the aussie that is among the worst performers in the currency market.
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