United States MBA Mortgage Applications climbed from previous -1.3% to 6.2% in November 13

The June and September FOMC meetings had not signalled the possibility of a rate hike. Nobody was really expecting the Fed to include an announcement on raising rates in the U.S. in their October statement. The fact that the FOMC October meeting would not be followed by a press conference had further strengthened the belief that no major decision on rate hike would be announced. The October minutes of the FOMC meeting to be released today, two weeks after the meeting will probably include discussion on rate normalization. The Fed feels that the next FOMC meeting scheduled to be held on 15th and 16th December would be a good time to discuss rate hike.