ForexLive Americas Wrap: FOMC Minutes Hint at Tapering Stimulus

Several on FOMC said Fed should be ready to cut QE
US housing starts 890K vs 920K exp
US PPI +1.4% y/y vs +1.5% exp
Canadian house prices fall for fifth consecutive month
Eurozone consumer confidence -23.6 vs -23.2 exp
Caterpillar warns of 4% y/y decline in business
Cable hits 2.5 year low
Gold down $41 to $1564
S&P 500 down 1.2% to 1512 - worst percentage decline since Nov 14
USD leads, NZD and GBP lag

Wild ride in the markets today. The euro and pound were beaten up badly on speculation the Fed is slowly shifting out of easing mode.

There were rumors of a commodity fund blowing up and that put pressure on gold and industrial metals. The FOMC minutes broke the market's back.

Similar story in cable the 2012 lows gave way.