Federal Reserve Chairman Ben Bernanke speech influenced the Global
financial markets
Traders were waiting with cautious the FOMC decisions
concerning the US
policy
About half of the Fed participants
indicated that it likely would be appropriate to end asset purchases late this
year on the improvement in the outlook for the labor market. However, many
other participants anticipated that it likely would be appropriate to continue
purchases into 2014 as they need to see more proof on accelerating the economic
activity in US.
The FOMC meeting and Bernancke testimony have effects
on EUR/USD, GBP/USD , Gold, Oil and Silver .
*Gold extended gains for a fourth session Thursday,
hitting its highest in more than two weeks after Federal Reserve President Ben
Bernanke said the central bank’s highly accommodative monetary policy would be
needed for the foreseeable future to support the economy. Gold prices jumped
2.55 percent or 31.98 points to trade at $1,287.35 after opening at $1,266.69,
having earlier hit a high of $1,298.64, and a low of $1,264.18.
*EUR/USD bounced up to hit a high level of 1.3205
*GBP/USD rose significantly to reach highest level of
1.5194
*Crude
oil extended this week's gains
and is trading at a 15-month high above $107.00 on lower inventories and amid
expectations the US Federal Reserve will keep its stimulus program to aid the
economy; tensions in the Middle East persist.
*Silver prices rose 2.49% to the USD19.77 per ounce during
the 24 hours
In conclusion , there are
obviously mixed sentiments about US
policy , but at least Ben Bernanke in his
press conference promised to stimulate the US economy
