The dollar traded higher following the FOMC meeting however the move was more of a profit taking rather than investors picking up the dollar from six week lows versus majors. Overall the 25 basis points increase by the FED did nothing to the FX markets however the US equity markets turned lower after the news to close in negative territory. Metals traded lower on a stronger dollar and Oil lost near one percent following a surge in US crude production to 11.1 million bpd, a record in US production and up 30% over the last 24 months and an increase in US oil stockpiles.
US Final GDP and Durable Goods Orders at 1:30 pm are the important news on the agenda Thursday.
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