The FOMC meeting minutes released late yesterday showed a mixed outlook as policy makers were divided on interest rate hikes. While some officials preferred for rates to be hiked, others preferred to wait for more evidence.
Besides the FOMC minutes, Fed speak over the day included Evans who questioned whether more accommodative policy was required to boost inflation while on the other hand, George said that the Fed should continue with its gradual rate hikes.
On the economic front, data was relatively quiet. Looking ahead, the US producer prices index data will be released today. Estimates point to a 0.4% increase on the headline PPI while core PPI is expected to rise 0.2% on the month. ECB President Mario Draghi will be speaking today followed by FOMC members Powell and Brainard.
