The course for the immediate market movements across the world will be set today. FED rate release is one thing and it has already been posted. Press conference held by FED chairman Ben Bernanke is another thing. We do know that he will be stepping down from his post sooner rather than later and we do want to know what will be next steps of Federal Reserve. Will bond buying program continue or not?
Let the chairman tell himself. His speech is scheduled at 18:30 GMT, which is in a matter of a few minutes. Do not be troubled the world will not end, but markets will be very volatile for the next upcoming hours and possibly till the end of the week. US dollar is expected to rise. It seems that the Japanese Yen will continue falling and stocks may recover.
See you tomorrow.
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