{"id":80636,"date":"2026-05-20T15:59:33","date_gmt":"2026-05-20T05:59:33","guid":{"rendered":"https:\/\/www.icmarkets.com.au\/blog\/?p=80636"},"modified":"2026-05-20T15:59:34","modified_gmt":"2026-05-20T05:59:34","slug":"trade-cable-on-the-fomc-meeting-minutes","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/trade-cable-on-the-fomc-meeting-minutes\/","title":{"rendered":"Trade Cable on the FOMC Meeting Minutes"},"content":{"rendered":"\n

This week\u2019s FOMC Meeting Minutes release are shaping up to be one of the bigger trading opportunities for FX traders for the week. There is very little else in the way of tier 1 risk events for the US on the macroeconomic calendar and to add a bit more spice to proceedings the new Fed Chair Kevin Warsh is being sworn in on Friday. Extra focus will come on the minutes this week after strong inflation readings last week, the CPI data, which came in higher than expected at +3.8% y\/y and the PPI number which also smashed expectations at +1.4% m\/m, pushed US yields higher across the curve, pulling back hopes of a rate cut from the Fed this year and prompted many to start looking for hikes as the next move.  <\/p>\n\n\n\n

The last meeting resulting in the FOMC keeping rates on hold for the third consecutive meeting, something that was close to 100% priced in, however the fact that three members objected to including an easing bias in the statement caused some controversy and that will be the focus for many when the minutes come out this week. Anything indicating that the committee could be turning more hawkish, would likely see further appreciation for both yields and the dollar whilst anything indicating that there is still a strong dovish bias could see some corrections in recent moves.<\/p>\n\n\n\n

Cable is again looking well set up from a technical perspective for a decent move on the back of the minutes release having found some support down near 1.3300 over the last couple of sessions. However, a strong hawkish indication from the minutes, or notes that the committee will be closely watching inflation data should see the dollar rally and Cable take a hit back towards those support levels. Anything more neutral and staying inline with the dovish bias, could see the dollar take a hit and Cable drive back higher.<\/p>\n\n\n\n

Resistance 2: 1.3843 \u2013 Long Term Trendline Resistance<\/p>\n\n\n\n

Resistance 1: 1.3658 \u2013 May High and Trendline Resistance<\/p>\n\n\n\n

Support 1: 1.3300 \u2013 May Low and Trendline Support<\/p>\n\n\n\n

Support 2: 1.3156 \u2013 2026 Low<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

This week\u2019s FOMC Meeting Minutes release are shaping up to be […]<\/p>\n","protected":false},"author":8,"featured_media":80637,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[462],"tags":[],"class_list":["post-80636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/80636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/comments?post=80636"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/80636\/revisions"}],"predecessor-version":[{"id":80639,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/80636\/revisions\/80639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/media\/80637"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/media?parent=80636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=80636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=80636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}