In the afternoon, all the attention of traders was focused on the minutes from the last meeting of the Federal Reserve System, which had no effect on the market, leaving everything in its place. Low volatility is associated with the elections to the European Parliament, which begin today and the results of which will be known at the weekend.

As for the Fed's protocols, the emphasis was shifted to economic growth and inflation. The Fed economists forecast a short-term slowdown in US GDP growth compared with growth rates in the first quarter of this year, but they expect an acceleration in GDP growth in the medium term.

As for inflation, in the opinion of many managers, the weakness of inflation is a temporary phenomenon, but the Fed needs to continue to follow a patient approach. Only a few Fed officials were concerned that inflationary pressures could rise quickly. The protocols indicate that the increased downward risk for inflation will be short-term and temporary.

The Fed also reported on trade relations between the United States and a number of other countries. Fed economists expect trade policy to have a significant negative impact on future economic growth, and the Central Bank should take a patient approach, even if the situation in the global economy and financial conditions improve.

On Wednesday evening, US Secretary of the Treasury Steven Mnuchin also spoke on the US national debt ceiling, which can be achieved at the end of this summer. Mnuchin pointed out that the Federal government would not be able to meet all its obligations after that, and urged Congress to raise the debt ceiling as soon as possible. The problem of the debt ceiling in the United States is constant, but in recent years it has received less and less attention.

As for the technical picture of the EURUSD pair, it remained unchanged. The further downward movement will depend on the support level of 1.1140, a breakthrough of which will only increase the pressure on risky assets and lead to an update of the minimum of 1.1110. The growth of the euro will be limited to the upper limit of the side channel in the area of 1.1190.

Oil prices fell after yesterday's report of the US Department of Energy, in which it was stated that commercial oil reserves in the US increased last week. According to the Energy Information Administration, oil reserves rose by 4.7 million barrels, to 476.8 million barrels, while analysts expected a decrease in oil reserves by 1.4 million barrels. Gasoline inventories increased by 3.7 million barrels, to 228.7 million barrels, and distillate stocks rose by 768,000 barrels, to 126.4 million barrels. Oil refining capacity utilization decreased by 0.6 percentage points to 89.9%.