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GAIN Capital: QE3 Fed to extend the distorted operation

:2012-06-25 22:06:13Source::UniteDirectory  [Submit Article]  [Submit Link]

  U.S. Federal Open Market Committee (FOMC) lowered the economic outlook and investor disappointment for those who expect a new round of asset purchases, the dollar rise. The Fed does extend to distort the operation to end before the end of 2012 there will be $ 267 billion national debt will be swapped. The objective of this in reducing the yield of government bonds of longer duration. In a press conference after the meeting, Chairman Ben Bernanke said the Fed will consider further asset purchases. Remarks for the third round of quantitative easing (QE3) stay in the door. He stressed the fact that hedge funds flow to push down interest rates and added that the Fed "can not further lower interest rates. U.S. bond yield basic rise, in addition to the long-term 30-year yield - fell 2.2 basis points.
Bernanke forecasts published report, this year's growth and inflation expectations are lowered, while the unemployment rate increase. Repair to the 2012 GDP growth forecast from 2.4% to -2.9% in April to 1.9% -2.4%; cultivation for personal consumption expenditures price index from 1.9% -2.0% 1.2% -1.7%; the unemployment rate of 8.0% between -8.2%. FOMC to maintain a relaxed posture and reiterated many times in preparation for action in the "right time".
Today the main focus of the Fed, but it is not the only announced that the central bank of the monetary policy decision-making. Norwegian central bank earlier this morning to hold rates at 1.50%. The central bank raised the consumer price index (CPI) expected value, claiming that the prospects for GDP indicates that the CPI will rise gradually. The central bank also said that after the end of 2012, interest rates will gradually rise. NOK stand out in the G10 currency today, is the only currency against the dollar. U.S. dollar/Norwegian Krone fell, and test the 55-day moving average - currently at 5.89 near - and look under 5.80 near 100 days and 200 days moving average convergence.
The U.S. stock market intraday by the FOMC meeting of the ups and downs, closing to go soft. The Dow ended down 0.10 percent, the Standard & Poor's 500 index fell 0.17 percent. Goods by the rising U.S. dollar weakness, which of these two precious metals gold and silver fell 0.81 percent and 1.30 percent respectively. U.S. weekly crude oil inventories unexpectedly increased to 286.1 million barrels, an increase than to reduce the expected value of 130 million barrels, affected the U.S. West Texas Intermediate crude oil fell 2.71% as of this writing.
New Zealand's first quarter GDP will be released soon, is expected to show quarter rate of growth of 0.4%, faster than 0.3% of the previous value. Asian session In addition to information released by the Japanese portfolio investment a week, May machine tool orders; June HSBC China Manufacturing Purchasing Managers' Index Preview value; Australia May RBA foreign exchange transactions. Institutions: GAIN Capital

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