• The Federal Reserve’s minutes indicated economic strength and moderate growth, coupled with uncertainty in regards to upcoming fiscal policy by the new administration. These factors and economic data were used to indicate that an interest rate hike could be forthcoming fairly soon.
According to the minutes, “Many participants expressed the view that it might be appropriate to raise the federal funds rate again fairly soon if incoming information on the labor market and inflation was in line with or stronger than their current expectations or if the risks of overshooting the committee’s maximum-employment and inflation objectives increased.”
• Fed Governor Jerome Powell, one of the voting members at the central bank's last policy meeting, said on Wednesday a rate hike would be on the table at the Fed's next meeting in March.
• Existing home sales jumped 3.3 percent to a seasonally adjusted annual rate of 5.69 million units last month, the highest level since February 2007, the NAR said.
U.S. home resales surged to a 10-year high in January as buyers shrugged off higher prices and mortgage rates, signaling rising confidence in the economy and bolstering expectations of a pickup in growth in the first quarter.
• The dollar moved away from overnight lows and steadied on Thursday as the market reassessed the minutes of the Federal Reserve's last policy meeting, which kept the prospect of a March rate hike in play.
The minutes of the Fed's Jan.31-Feb.1 gathering noted many policymakers saying it may be appropriate to raise interest rates again "fairly soon" should jobs and inflation data come in line with expectations.
The dollar edged up slightly to 113.32 yen, after tumbling as much as 0.7 percent on Thursday.
The dollar index, which tracks the greenback against a basket of trade-weighted peers, added almost 0.2percent to 101.39.
The euro eased 0.1 percent to $1.05495. On Wednesday, it fell below $1.05 for the first time in six weeks on concern anti European Union candidate Marine Le Pen could win France's presidential election in May.
• The White House has pushed back the release of a new executive order to replace its directive suspending travel to the United States by citizens of seven mostly Muslim countries, a White House official said on Wednesday.
The order is now expected to be issued "sometime next week," the official said. President Donald Trump said last week he expected to release the new order this week.
• President Donald Trump, who has vowed to stop U.S. manufacturing from disappearing overseas, is seeking job-creation advice from at least six companies that are laying off thousands of workers as they shift production abroad.
• Oil prices fell more than 1 percent on Wednesday on expectations of another surge in U.S. inventories, retreating from multi-week highs hit in the previous session after OPEC signaled optimism over its deal with other producers to curb output.
Brent crude LCOc1 ended 82 cents, or 1.5 percent, lower at $55.84 a barrel, having touched its highest since Feb. 2 at $57.31 in the previous session.
The U.S. West Texas Intermediate crude April contract CLc1, the new front-month future, settled 74 cents, or1.4 percent, lower at $53.59.
• Mexico reacted with anger on Wednesday to what one official called "hostile" new U.S. immigration guidelines hours before senior Trump administration envoys began arriving in Mexico City for talks on the volatile issue.
Reference: Reuters, Kitco
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