By Alex Hilll
Ben Bernanke kept his cards close to his chest during his Jackson Hole speech at the weekend – while not mentioning QE3 directly, he stated they have a “range of tools’ at their disposal.
The next meeting will be over two days (20-21 Sept) to discuss their next options. Does Bernanke need an extra day to ‘sell’ his next move to other committee members?
Risk assets and equities all higher as markets anticipate more stimulus to be announced in late September.
Dow Jones, S&P and Nasdaq all up over 1%, CRB index +3.18%.
NZDUSD opens 0.8380, NZDAUD 0.7935, NZDEUR 0.5790, NZDGBP 0.5128, NZDJPY 64.50.
This week’s key focus will be ECB President Trichet speaking this evening, and US employment numbers Friday.
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Alex Hill is a currency strategist at HiFX in Auckland. You can contact him here
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