ForexLive North American wrap: Bernanke leaves ‘em wanting more

Author: Adam Button | Category: News

Author: Adam Button

  • Bernanke: Unemployment still well above Fed’s view of long-run level
  • No mention of post-OpTwist Treasury buying from Bernanke
  • Eurozone ministers discuss cutting interest on Greek loans
  • HP says its victim of fraud in $10.3B deal
  • Reports of Gaza ceasefire which later prove untrue
  • US Oct housing starts 894K vs 840K exp
  • Canadian Sept wholesale trade -1.4% vs +0.5% exp
  • Lacker wants Congressional limits on Fed credit policy
  • Belgian consumer sentiment to -24 in Nov from -17 in Oct
  • Nexen will accept Canadian govt conditions
  • BOE’s Weale says CPI likely above 2% for much of next two years
  • S&P 500 up 1 point to 1388
  • GBP leads, NZD lags

It wasn’t so much what Bernanke said, it was what he didn’t say. The soft employment forecasts are a sign that the Fed will remain dovish but not the commitment to more bond buying that the market wants.

Euro trading was rather uneventful, chopping around 1.2810 with a range of 1.2784-1.2810. The eurozone meetings on Greece are continuing in Brussels.