Keep an eye on the FOMC minutes: 5 key market events on Wednesday

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Keep an eye on the FOMC minutes: 5 key market events on Wednesday

By Laura Sanchez - As Omicron continues to spread around the world and has already replaced Delta as the dominant variant, France has detected a new one, temporarily called Ihu.

Today, investors will keep an eye on the minutes of the US Federal Reserve (Fed) meeting.

Cryptocurrencies are trading mixed.

These are the five factors that investors should take into account when making their decisions today:

1. France detects new variant of coronavirus

French scientists are studying the appearance of a new variant of the coronavirus, temporarily called Ihu.

This new variant would have up to 46 mutations and is being tested in 12 coronavirus patients living in the same geographical area in France. The cases could be linked to a trip to Cameroon.

2. FOMC meeting minutes

At 21:00 local time, we will know the minutes of the last Fed monetary policy meeting . The focus is on the agency's confirmation of its forecast for interest rate hikes this year. 

3. Crypto volatility

A volatile start to the year for the cryptocurrency sector, which continues to trade mixed. Bitcoin is trading at 46,000 dollars and Ethereum at 3,800.

4. Asia and the US stock market

The main Asian indices are mixed today. Nikkei is up 0.1%, Hong Kong's Hang Seng is down 1% and the Shanghai Composite loses another 1%.

On Wall Street, the market also ended yesterday mixed. The S&P 500 (-0.06%), Nasdaq (-1.3%) and Dow Jones (+0.5%) closed lower.

5. Macro data

Key macroeconomic releases include French consumer confidence , Italian CPI , as well as composite and services PMI in {{ecl-668|Spain|}}, France , Italy , Germany and the Eurozone .

South African markets closed in green yesterday, lifted by gains in mining sector stocks. JSE All Share index advanced 1.8% to close at 75,052.06.

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