- Minutes were perceived as slightly dovish, due to the lack of a clear major hawkish message
- The Fed sees the need to tighten all the time, but at the same time also sees the need to study the impact
- Many members see the risk of a tighter tightening than required
- Oil stocks fell by 7 million barrels, with exports at a record low, and with a smaller release of strategic reserves
- The oil market could be at risk of a rebound when the US decides not to continue releasing reserves
- US retail sales did not rise as a whole, but grows 0.4% m/m on a core basis
- Eurozone GDP came in slightly below expectations, at 3.9% y/y on expectations of 4.0% y/y
- EURUSD tests near 1.0200 level after dovish minutes
- S&P 500 recovers, but still loses 0.25% after the minutes, and Nasdaq trades near yesterday's levels
- Gold loses 0.5%, while oil gains almost 1.0% thanks to high decline in stocks
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Morning wrap: Sentiment on Wall Street slightly eases, US dollar under pressure (14.04.2026)