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Bernanke’s prepared speech does not contain news – markets

The text of Ben Bernanke’s academic speech in Boston was released, but it contains nothing really market moving. The Federal Reserve is still working on achieving a full recovery, with jobs, inflation and financial stability all being equal goals.

EUR/USD traded around 1.2885 and USD/JPY was just above 100 before the speech was released and no big movements are recorded. More action is expected in the second part, where questions will be asked. Will Bernanke release market moving answers?

Update:  Bernanke sends the dollar crashing down with dovish comments  – EUR/USD edging towards 1.30 and GBP/USD is above 1.50.

The meeting minutes from the FOMC caused a big confusion, but generally sent the dollar lower. On one hand, “many” wanted to see more improvements before beginning to taper, while only “several” wanted to see tapering now. This sent the dollar crashing.

But, within the economic projections part, it is mentioned that “half” saw QE ending completely until the end of the year, and the dollar managed to reverse some of the gains.

An important indicator for jobs will be released tomorrow.  See how to trade the US jobless claims with EUR/USD.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.