You are here: Home > Forex > ETX Capital Daily Market Bite, 17th July, 2013; Markets Inch Up Ahead Of Bernanke Testimony
ETX Capital Daily Market Bite, 17th July, 2013; Markets Inch Up Ahead Of Bernanke Testimony
July 17, 2013 7:34 amVideo
Latest News
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
- Technical Analysis – EURGBP stuck around the crucial 0.8500 floor May 31, 2024
- Technical Analysis – USDCAD meets uptrend line again and again May 31, 2024
July 17th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
Fed chairman Bernanke’s testimony to US Congress turning out to be the key-risk event over the next two session, prompting both the bulls and bears to avoid building too much risk exposure. Stocks on Wall Street fell on Tuesday and Asian markets were mixed in overnight trade giving European indices little fresh direction.
UK unemployment data, BOE meeting minutes and US housing starts will all catch attention before Bernanke’s testimony as will earnings from Bank of America and eBay out of the US. Bernanke’s speech will be released before his testimony begins and it’s likely the Fed chief will repeat his remarks last week that US monetary policy will remain highly accommodative for the foreseeable future and interest rates will remain at unprecedented low levels.
For market participants however, after last week’s dovish comments by Bernanke, some are fearing he may change his tune a little again. That being said, it’s likely he won’t stray too far away from his dovish remarks last week and for investors, more so than his speech, the Q&A will be highly scrutinized for signs of possible timeframe for tapering when the Fed eventually starts the process and also the amount the Fed will gradually unwind.
Before that of course, the BOE’s meeting minutes will catch the markets’ attention as we get our first insight into Governor Carney’s stance on QE; is he for or against? It’s likely he voted against pumping more stimulus but with the batch of damp UK data we have seen over the past few sessions, that may change in the coming months. Goldman Sachs’ Q2 earnings smashed expectations as expected in the previous session, following on from the success of peers JPMorgan and Citigroup.
Bank of America prepares to report Q2 results and the results will be keenly eyed by the market as BOA is a leader in the mortgage lending market. Wells Fargo last week beat expectations but did note a slowdown in mortgage lending, giving investors some reason to fret ahead of BOA’s release. Other earnings from the US include eBay and American Express before the opening bell. Tech giants Intel and IBM are lined up to report numbers after the US closing bell; Yahoo reported numbers that fell short of expectations overnight.
Visit http://www.etxcapital.co.uk/
Find us on social media to be kept up to date with the latest ETX Capital news:
Facebook: https://www.facebook.com/#!/ETXCapita…
Twitter: https://twitter.com/#!/etxcapital
LinkedIn: http://www.linkedin.com/company/44542…
ETX Capital’s RSS site: http://my.etxcapital.co.uk
Related Posts: