Wall Street lacks direction ahead of Fed minutes
Today's Minutes release from the last Fed meeting shouldn't be a surprise. The Fed made it clear that there is no need to worry about inflation, because even if it does increase, it should only be a temporary process. Nevertheless, risk should never be underestimated. Markets would want to see whether there was at least some discussion about faster policy tightening amid improving economic outlook. Market sentiment is rather weak today and volatility is very limited. However, today's publication may lead to larger movements in the market.
US500 fell slightly during today’s session. One can see, however, that investors are waiting for a signal that may lead to bigger moves. Another possible target for bulls is located around 4,100 pts, while support lies around 4000 pts and is marked with 127.3 Fibonacci retracement. It is worth noting that the seasonality indicates an upward move in the coming month. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr SÄ…dowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.