---------BERNANKE COMMENTS------------
Fed's Bernanke says that future asset buys depend on substantial improvement in labour market
Says:
- FOMC can modify the programme as appropriate.
- Fed intends to be flexible on the pace of purchases
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Fed's Bernanke says reaching one of the thresholds will not automatically trigger tightening
Says:
- Goal of asset purchases is to increase near term economic momentum.
- Decisions to modify asset purchases and rate increases are tied to different criteria.
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Fed says 13 officials would prefer first rate hike in 2015 (Prev. 12); 1 in 2016 (Prev. 1)
Says:
- Cuts forecast for 2013 GDP growth, cuts forecast for 2013 unemployment rate, cuts forecast for 2013 core inflation.
- Cuts forecast for 2014 GDP growth, raises forecast for 2014 unemployment rate, cuts forecast for 2014 core inflation.
- Sees long-run jobless rate at 5.2% – 6.0% (Prev. 5.2% – 6.0%), GDP growth at 2.3% (Prev. 2.3% – 2.5%).
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Fed's Bernanke says that future asset buys depend on substantial improvement in labour market
Says:
- FOMC can modify the programme as appropriate.
- Fed intends to be flexible on the pace of purchases.
- No single indicator gives full assessment of labour market.
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Fed's Bernanke says FOMC may increase stimulus in fiscal cliff event
Says:
- Sustainable long run unemployment rate could be less than 6%
FOREX INSIGHT GROUP
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This morning before ending the trade session Chief Trader shared with all those attending his outlook on Gbp/usd and trade set ups that he and the Fx Insight Team will be executing. Bounce trades and Phase I Fibonacci Ret trades coming up in this pair. Chief Al carefully shares details of where these trade will take place and how to set up for entry.
