ForexLive North American wrap: Bernanke leaves ‘em wanting more

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  • Bernanke: Unemployment still well above Fed’s view of long-run level
  • No mention of post-OpTwist Treasury buying from Bernanke
  • Eurozone ministers discuss cutting interest on Greek loans
  • HP says its victim of fraud in $10.3B deal
  • Reports of Gaza ceasefire which later prove untrue
  • US Oct housing starts 894K vs 840K exp
  • Canadian Sept wholesale trade -1.4% vs +0.5% exp
  • Lacker wants Congressional limits on Fed credit policy
  • Belgian consumer sentiment to -24 in Nov from -17 in Oct
  • Nexen will accept Canadian govt conditions
  • BOE’s Weale says CPI likely above 2% for much of next two years
  • S&P 500 up 1 point to 1388
  • GBP leads, NZD lags

It wasn’t so much what Bernanke said, it was what he didn’t say. The soft employment forecasts are a sign that the Fed will remain dovish but not the commitment to more bond buying that the market wants.

Euro trading was rather uneventful, chopping around 1.2810 with a range of 1.2784-1.2810. The eurozone meetings on Greece are continuing in Brussels.

Author: Adam Button

Adam Button is the managing editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.


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