FOMC minutes show members open to tapering QE
Thursday, 23 May 2013 01:47
However, according to the minutes, views differed about what evidence would be necessary and the likelihood of that outcome. One Fed official wanted to stop the bond purchases immediately, while another wanted to increase the size of the program. Despite the discrepancies, most members emphasized importance of being prepared to adjust purchases either up or down. The minutes also revealed the Fed started a review of their exit strategy principles last released to the public in 2011. The broad principles appeared generally still valid, but the bank will probably need greater flexibility regarding the details of implementing policy normalization Gold falls as Bernanke says policy stays loose, but under review
Wednesday, 22 May 2013 23:57
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were down 0.48% at USD1,371.05 a troy ounce in U.S. trading on Wednesday, up from a session low of USD1,365.95 and down from a high of USD1,413.05 a troy ounce. Gold futures were likely to test support USD1,323.00 a troy ounce, the low from April 16, and resistance at USD1,444.15, the high from May 14. In prepared testimony in Congress earlier, Bernanke said ultra-loose monetary policy was providing "significant benefits" to the economic recovery and reiterated that the bank’s asset-purchasing program will remain in place for now. EUR/USD shrugs off Bernanke comments, weak U.S. data
Wednesday, 22 May 2013 23:30
In U.S. trading on Wednesday, EUR/USD was down 0.21% at 1.2878, up from a session low of 1.2869 and off from a high of 1.2998. The pair was likely to find support at 1.2819, Monday's low, and resistance at 1.3029, the high from May 14. Crude oil futures remain lower after supply data, Bernanke
Wednesday, 22 May 2013 22:37
On the New York Mercantile Exchange, light sweet crude futures for delivery in July traded at USD95.06 a barrel during U.S. morning trade, down 1.1% on the day. Prices traded at USD95.40 a barrel prior to the release of the supply data. New York-traded oil prices fell by as much as 1.5% earlier in the session to hit a daily low of USD94.70 a barrel, the weakest level since May 16. Stronger dollar hits fresh 4-1/2 year highs vs. yen on Bernanke remarks
Wednesday, 22 May 2013 22:20
During U.S. morning trade, the dollar hit its highest level since October 2008 against the yen, with USD/JPY advancing 0.97% to 103.48. The dollar rallied against the yen after Bernanke said the Fed could potentially slow the pace of asset purchases in the next few meetings.
Last Updated on Wednesday, 22 May 2013 22:29
More Articles...
Page 1 of 26 Commodity
|
Latest News
Hang Seng NewsInfo Dealing |




The minutes from the April 30 and May 1 FOMC meeting showed that "a number" of officials expressed willingness to taper the bond buying program as early as the June meeting "if the economic information received by that time showed evidence of sufficiently strong and sustained growth".
Gold prices erased earlier gains in U.S. trading on Wednesday after Federal Reserve Chairman Ben Bernanke said monetary stimulus policies will stay in place though scale backs were possible if economic indicators improve.
The euro reversed earlier gains against the dollar on Wednesday and fell after Federal Reserve Chairman Ben Bernanke told the U.S. Congress policy will remain loose for now.
Crude oil futures were lower on Wednesday, holding on to losses after a U.S. government report showed oil supplies fell less-than-expected last week.
The dollar hit fresh four-and-a-half year highs against the yen on Wednesday following remarks to the U.S. Joint Economic Committee by Federal Reserve Chairman Ben Bernanke.






