Spreadex Market Update
17.07.12 Tuesday Afternoon
The highly anticipated testimony from the US fed chairman Ben Bernanke this afternoon proved, volatile. Bernanke recognised that US unemployment as well as growth will be frustratingly slow and the detrimental effects of the Eurozone crisis were enough to shake policy makers and entertain some concern. In addition, the admission of a threat of a shallow recession caused by spending cuts was enough to cut afternoon gains, temporarily.
Despite this, losses within the global markets were supported, and in some markets even reversed, as Bernanke also acknowledged that an offer for additional monetary support for the US economy could be on the table in the short-term.
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