Minutes Update

Many Federal Reserve officials are concerned that inflation will remain lower for longer, according to minutes of the policy meeting they held in September. The textbook stipulation that low unemployment should push up worker pay, spending, and subsequently prices, is not showing up as obviously as it should. This may warrant more patience in raising interest rates, the Fed officials said. They were split on whether to hike for a third time this year, likely to be considered in December. Full text

/ES Update: Market moved above YVAL 2545 with volume falling, so we saw lack of fuel on buyers leaning on VWAP towards ATH 2553.25 Finally market has printed 'one tick' above the last record high, leaving more bullish imbalance towards 2560.

Disclaimer: All information on this update is for educational purposes only and is not intended to provide financial advice.

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