Fed minutes, existing home sales and oil inventory data on the docket today ...Middle East

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The economic calendar in the North American session will include:Existing home sales at 10 AM ET. The expectations are 4.21M versus 4.19 billion last monthAt 10:30 AM, the weekly oil inventory data from the EIA will be released with crude oil stocks expected to show a drawdown of -2.547M. The private data showed a surprise build of 2.48MLater at 2 PM, the Fed minutes from the May meetingRecall the Federal Open Market Committee (FOMC) decided to keep the federal funds rate steady at a range of 5.25-5.50%, which was in line with market expectations. The FOMC announced a more aggressive approach to tapering its quantitative tightening program. Specifically, they reduced the monthly cap on Treas

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