The financial markets are generally quite quiet today. The Canadian dollar and US dollar are the strongest major currencies so far while Euro and Kiwi are weakest.
The US Federal will release the minutes of the October FOMC meeting. Attention will focus on whether policy makers express easing concern over emerging markets, in particular China. Another key point will be whether there are more FOMC members expressing the confidence for rate hike in December. But not much new information is expected and the US Dollar will likely remain firm after today’s release. At the moment, fed fund futures are pricing in 64% chance of a rate hike in December, slightly down from 67.8% yesterday.
