Today at 19:00 GMT the well known FOMC minutes take place. Afaik there will be no press conference or additional forecasts so lets take possible actions or shifts by the numbers.

Reported dureable goods order fell by -3.4% vs. 0.5% expected m/m. A prior report was revised to -2.1% from -0.7% which is now the fifth consequtive month of more flat or negative readings.

If we dig down the available data the numbers start getting worse.

The Q4 GDP gets marked down a few ticks. Perhaps the most negative point is the proxy for business investment which fell -0.6% compared to some 0.9% expected. Those numbers are compounded by a revision in the November data to -0.6% from 0.0%.

It is the fourth consecutive decline and the total level of business investment appears to stay barely above where it was in november 2013.

Some major banks were pushing back thier fed liftoff forecast to march 2016 from january 2016.



Bottom Line: A softer dollar after the durable goods report may invite quick dollar shorts which seem to be attractive at the current stage of developments. However at this point it is more than possible for the fed to simply maintain its current rhetoric about beeing patient on rate hikes.

I will stay on the sidelines and watch the show later today. For the ones in positions, i hope you will survive the unpredictable fireworks in profit.
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