11 Jul 2013
US markets rallying on Bernanke
FXstreet.com (Edinburgh) -A dovish tone from Bernanke’s speech and the implicit promise that the Fed’s easing cycle is all but finished are pushing the US markets to test fresh record highs on Thursday. The greenback tanked in the wake of the event, although managed to bounce off lows around 82.40 to retake the key resistance at 83.00. DowJones is up 0.96% followed by the Nasdaq 1.44% and the S&P500, 1.17%.
Bourses across the Atlantic closed in a ‘sea of green’ propelled by Bernanke’s induced rally, after indicating that the easing cycle is far from over. The DAX was the best performer, up 1.14% followed by the CAC40, 0.74% and the FTSE100, 0.59%. Unforgettable day for the single currency, posting the best 2-day advance since 2010 after climbing from 1.2850 to levels just above 1.3200 the figure. The EUR/USD is now stabilizing around the mid 1.30s.
In the commodities’ space the ounce troy of gold is rallying 2.75% at $1,281 while the barrel of WTI is trimming recent gains, falling 1.43% at $105.10.
Bourses across the Atlantic closed in a ‘sea of green’ propelled by Bernanke’s induced rally, after indicating that the easing cycle is far from over. The DAX was the best performer, up 1.14% followed by the CAC40, 0.74% and the FTSE100, 0.59%. Unforgettable day for the single currency, posting the best 2-day advance since 2010 after climbing from 1.2850 to levels just above 1.3200 the figure. The EUR/USD is now stabilizing around the mid 1.30s.
In the commodities’ space the ounce troy of gold is rallying 2.75% at $1,281 while the barrel of WTI is trimming recent gains, falling 1.43% at $105.10.