FAST FIVE: Futures Flat Ahead Of FOMC Minutes
“This will have a trickle-down effect on other instruments, including stocks,” said Deepak Jasani, head of retail research at HDFC Securities Ltd.
Minutes of March 17 FOMC meeting, slated for 2pm ET release, will be searched for any commentary on tapering, as markets continue to price in an earlier start to rate hikes than Fed policy makers project.
There have not been any specific headlines to drive price action although participants continue to weigh the recent fundamental drivers; namely, OPEC and COVID among others.
Turning to base metals, LME copper is softer and back below USD 9,000/t with traders citing rising inventories alongside softening demand in China.
+5.5% in January), along with their 2022 forecast to +4.4% (vs.