Wed 22 May 2013 Speaking on Wednesday afternoon to Congress US Federal Reserve Chairman Ben S. Bernanke has called attention to the still weak labour market, one of the weaknesses which, in the past, the central bank has highlighted must be addressed before it can proceed to modify its monetary policy.
Wed 22 May 2013 William Dudley, the head of the New York Federal Reserve said that the a decision on scaling back the central bank’s asset purchase programme is still three to four months away, writes the Los Angeles Times.
Wed 22 May 2013 Current Bank of Canada Governor and soon-to-be head of the Bank of England (BoE) Mark Carney pointed out the deep challenges facing Europe due to austerity, a lack of confidence and tight credit. He suggested that the region could learn lessons from Japan on not following through with solid policy.
Wed 22 May 2013 The dollar rose against major rivals on Wednesday as markets look ahead to the Federal Reserve Chairman Ben Bernanke’s view on US economic progress and implications for the central bank's quantitative easing programme.
Tue 21 May 2013 The New York Times says: “Jamie Dimon, the nation’s most powerful banker, appears set to hold onto his title of chairman after JPMorgan Chase’s shareholders defeated a proposal to split the two top jobs, according to people who have seen the preliminary tallies.” The paper pointed out that the margin of victory is still unclear.
Tue 21 May 2013 The price chart for the GBP/USD reveals that the support level at 1.52 is actually holding up for now, leading technical analysts at Digital Look to consider a potential rebound towards 1.54.
Tue 21 May 2013 Last week, the EUR/USD broke through the support level at 1.2954 and confirmed a reversal formation known as a ‘double-top’ with bearish implications, according to technical analysts at Digital Look.
Tue 21 May 2013 Italy's former technocrat Prime Minister Mario Monti said that the worst of the European crisis has passed and that the current Italian government would remain unchanged in the short-term.
Tue 21 May 2013 Germany is working on minor changes to European Union (EU) treaties in the hopes of speeding up the decision-making process, while at the same time avoiding an overhaul that might result in the repatriation of powers from Brussels to the UK.