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Daily Market Snapshot: Fed Meeting Minutes in Focus – 21 August 2024

US Stocks remained trading near recent highs as investors continued to look at the end of week update from Jerome Powell and today’s Fed minutes with optimism that the Fed easing cycle will kick off in September.

Treasury yields, the dollar and Oil remained under pressure, whilst Gold hit a new record high for the 3rd day on the bounce before dropping back again.

It is a thin risk event calendar day again with little scheduled to excite investors until we hit the final session of the day and the FOMC’s Meeting Minutes.

Market	Change	Close
Dow	-0.15%	40,843
S&P	-0.20%	5,597
Nasdaq	-0.33%	17,816
USD	-0.42%	101.44
US Treasury – 2 Year	-7 bps	3.998%
US Treasury – 10 Year	-4.9 bps	3.818%
Oil – Brent	-0.6%	$77.20
Oil – WTI	-0.4%	$74.40
Gold	+0.49%	$2,513

Today’s Events (AEST):

US Session

12.30 am – US – Crude Oil Inventory Data

4.00 am – US – FOMC Meeting Minutes

Last Updated: August 21, 2024

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