The US Federal Reserve has released the minutes of its latest meeting. The central agency is reportedly willing to wait before increasing interest rates.
The Federal Open Market Committee held a meeting between May 1-2 and shared the minutes of that meeting on Wednesday.
The minutes read members saying "observed that a patient approach to determining future adjustments to the target range for the federal funds rate would likely remain appropriate for some time."
"A number of participants observed that some of the risks and uncertainties that had surrounded their outlooks earlier in the year had moderated, including those related to the global economic outlook, Brexit, and trade negotiations," the minutes said.
"That said, these and other sources of uncertainty remained. In light of global economic and financial developments as well as muted inflation pressures, participants generally agreed that a patient approach to determining future adjustments to the target range for the federal funds rate remained appropriate."
"Members observed that a patient approach to determining future adjustments to the target range for the federal funds rate would likely remain appropriate for some time, especially in an environment of moderate economic growth and muted inflation pressures, even if global economic and financial conditions continued to improve," the meeting summary said.
The continuing trade woes between the US and China along with the minutes thereby lead to US markets sliding towards the negative.
The Dow Jones Industrial Average DJIA was down by 0.39% or 100.72 points. The S&P 500 index was down by -0.28% or 8.09 points. Nasdaq Composite Index was down by 0.45% or 34.88 points. Tech stocks bore the major brunt even as the tech markets remained divided between trade wars and the Huawei fiasco.
With markets tapering and the regulator awaiting for green signals to increase interest rates, the US greenback took a hit. The dollar index, which measures the greenback against six major peers, was down 0.02 per cent at 98.0403 in late trading. USD INR in early morning trade on Thursday (Indian Time) was reported a bit higher.
Rupee was trading at 69.494 (down by 0.28%) on Thursday against the Dollar.
Gold rates in international markets have sustained from a free fall and trading at levels of $ 1275 per ounce. A week ago, gold rates had started slipping from levels of $1300 per ounce.