• The US Dollar Index started to give back its gains one day after making a very positive start to the new year. Before the minutes of the FOMC meeting at 22:00 (GMT+3), we see that the movements on the Dollar side are getting a little better.

The US 10-year bond yield continues to decline today, as it was yesterday, and the 10-year bond yield decreased to 3.67%. Likewise, we have been seeing consecutive decreases in the German 10-year bond interest for 3 days.

• Ounce Gold continued its rise today and reached the level of 1865.
• The minutes of the Fed’s December meeting will be published at 10 p.m. (GMT+3) in the evening. The FED entered into a relatively hawkish policy and discourse at the last meeting. Dot plot charts revealed that the Fed is in a more hawkish outlook for interest rates. At least, that’s what the FOMC members’ expectations were shaped. While the relative inflation pressures in the USA and Europe have decreased, we will follow how this increasing hawkish outlook is explained. Besides, it would be interesting to take a look at how policy makers feel about labor market conditions and the economy. It may be a matter of curiosity whether there will be any expression from some members that they have a concern about “over tightening”.

Any message from the minutes that will soften the hawkish attitude may increase the risk appetite again and a situation may arise against the dollar. Otherwise, the dollar trend may continue from where it left off and the shyness of the market may continue.

• When we look at the intraday data, according to the December inflation results announced from Switzerland, annual inflation was 2.8% and monthly inflation was -0.2%.
• Services PMI Index of Germany and Euro Area has been announced. Germany remained in the contraction zone, with 49.2 and the Eurozone 49.8, below 50.