US Dollar Avoids Trend After Fed Minutes, On to Earnings
Despite the Fed's exceptional effort to lay bare its policy bearings at last week's policy meeting, the market was still holding out for QE3 word at Wednesday's Minutes. Instead, the investors were met with the same promise of readiness and faction of active doves that the market has come to expect. The reaction from US equities and the dollar was clear, but follow through was absent. A baseline scenario to curb stimulus hopes isn't enough to turn the ship for underlying sentiment. And so, we chart out the next round of big ticket event risk to possibly shake these markets to life.