The Federal Reserve is ready to provide extra support to the US economy if needed. During yesterday’s speech in the Senate, Ben Bernanke didn’t specify the means of economic stimulation but said the FRS was ready to for further stimulation.
Bernanke also underlined that the rate of unemployment was declining too slow, thus presenting additional risks for the US economy. This seems to be the major concern for the FRS at this point. Therefore, the central bank is determined to act in order to ensure economic growth and higher employment.
Financial markets didn’t get any hints at further quantitative easing. Bernanke underlined that the eurozone crisis and the unclear US tax policy can be considered the major factors restraining the economic recovery.
Forex.
According to , the USD index stays within the price range formed by wave а(С)/shС. The bearish move will grow into a downtrend if the price breaks and consolidates below 83,04. The long-term rally will resume as soon as the price overcomes the top of the MF sloping channel and consolidates above the MF pivot 83,68 (as shown below):
