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Flash: Still expect the Fed to purchase assets full steam until Sept – TDS

FXstreet.com (Barcelona) - According to TD Securities analysts, “Ben Bernanke’s comments confirmed on Wednesday the risk of QE tapering,” forcing markets to sell equities, and emerging market currencies against the USD.

For the current week, “positioning ahead of the ECB decision and non farm payrolls will be the main market theme,” they suggest, while “In the week ahead, the risk of higher US Treasury yields should continue dominating asset allocation decisions, which may involve further selloffs in all EM asset classes.”

“The risk should be tempered by the fact that we still expect the Fed to purchase assets full steam until September, then reduce its pace and end them in early 2014,” TDS concludes.

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The EUR/JPY finished the session down 107 pips at 130.82, closing below the 20dma (130.87) for the first since early May.
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The precious metals finished the week on a quiet note, with gold closing down 0.28% at 1385 and silver giving back 0.97% to close at 22.32.
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