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Forex Flash: FOMC minutes unsettles market – TD Securities

TD Securities note that The FOMC minutes, not usually a factor for the markets, have unsettled trading twice in a row now: "Yesterday’s minutes implied less unity among policy makers but certainly provided no clear bias on the policy outlook", wrote analysts Shaun Osborne and Greg Moore. "The suggestion that policy may need to be “tapered” in response to changing circumstances (even though this was balanced by other FOMC members who warned against an early roll back of QE) was enough to unsettle an already uneasy market", they added.

Commodities Brief – Gold escapes ‘death cross’, precious metals fall ahead of US opening

Gold prices have been unable to mount a prolonged recovery during the overnight and European trading sessions, as investors are still licking their wounds from yesterdays thrashing that took Gold below the fabled “death cross”, i.e. the plunge below its 50 and 200-day MA. At the onset of American trading today, the yellow metal has at least found some stability above its 200-day SMA, however it continues to trade negatively after a brief peak at 1574.65 earlier today. In these moments, the price of Gold has settled at USD $1568.95 per oz. as futures paint a grim picture for the US open.
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American equity markets unable to rebound Thursday

The US Stock market experienced a definitely negative opening Thursday, as the drama and fears of yesterdays collapse carried over into today, compounded by the release of uneven economic data out of the United States. In the United States, the Consumer Price Index (YoY) grew +1.6% in the month of January, in like with consensus expectations. Moreover, the Consumer Price Index (MoM) was unchanged in January, missing estimates calling for +0.1%. The Consumer Price Index ex Food and Energy (MoM and YoY) was reported at +0.3% in January (vs. 0.2% expected) and +1.9% in January (against projections of +1.8%) respectively. Finally, Initial Jobless Claims (February 17) yielded a figure of 362K, against 355K expected.
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