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EUR/USD edging higher but FOMC minutes very much on the radar this evening

Leaving aside the markets fixation with NVIDIA and their Q4 results this evening, we should not forget an event that comes ahead of those results. That is at 7pm GMT and it is the January FOMC (Federal Open Market Committee) minutes from their policy meeting. Now, petty much all of the most recent data that has shifted the market outlook for Fed policy has come after that meeting took place. However, those minutes can be revised and edited, but as to whether or not that will see any kind of shift in the language is uncertain. Personally, I have no expectations here, but all I can say, is that any negative dollar reaction to a dovish slant might be short lived, for the reasons just mentioned. Of course the opposite does not apply. In the meantime, the EUR/USD has managed to rebound, as US yields dip ever so slightly this afternoon. That said it has not yet made it past the 200 day moving average (still at 1.0827). Granted it has lifted above 1.0808 (100 day) but that is not so important. The high seen has just been set at 1.0820. It is currently trading at 1.0812

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