Intraday Market Thoughts

AlArabia Interview with English Synopsis

by Ashraf Laidi
Jul 17, 2012 19:19

Ashraf Laidi tells AlArabiya Fed Chairman Bernanke resorted to the familiar method of reiterating the Fed's willingness to do more if required by the labour market without necessarily signalling any imminent action. Euro was the biggest victim of Bernanke's silence, losing nearly a full cent to reach $1.2205 after Bernanke's text hit the wires. Short of an aggressive round of outright asset purchases from the Fed and a 3rd LTRO (this time at 0.75%), the single currencys days above $1.20 may become numbered. The question then remains, to what extent will any central bank-driven euro bounce remain short-lived? And with a stimulus package from China becoming more imminent, chances for coordinated global interventions become inevitable. CLICK HERE FOR THE INTERVIEW:


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