Federal Open Market Committee (FOMC) Minutes
There is nothing of importance scheduled for Tuesday. The first event of the week will be the release of the minutes from last month’s FOMC meeting late Wednesday. Traders will be looking for any indication of the Fed's next move regarding monetary policy, particularly economic concerns and when the next rate increase may come. They will be released at 2:00 PM ET, therefore, any reaction will come during afternoon trading. These minutes may lead to afternoon volatility Wednesday, or they may be a non-factor. However, they do carry the potential to influence mortgage rates, so they should be watched.