No bounce yet for the EUR/USD after the release of the Fed meeting minutes

The minutes taken from the FOMC (Federal Open Market Committee) monetary policy meeting on September 18 have just been released. There were some analysts expecting these minutes to show a hawkish bias in terms of what might be coming next from the Fed. Many in the markets had therefore concluded there was little chance of another Fed rate cut at the next meeting on November 7. To be honest though that would be unlikely anyway, as the meeting comes just a couple of days after the Presidential election, on November 5. The impact and details of all the most recent US economic data will of course not figure in these minutes either. So, the upshot this evening is these minutes indicate that not all voting participants opted for a 0.50% rate reduction. The minutes also reveal the Fed is marking down the economic outlook for next year. The impact of this has not dented the US stock markets and little reaction in the dollar too, which remains at close to session highs. The EUR/USD has traded close to the noted 100 day moving average (in place at 1.0933) today. The low seen so far has been set at 1.0937. It is trading at 1.0938 after the release of these minutes