Spreadex Market Update
Asian markets failed to be galvanised
Fed tapering will be a main talking point of the day with outgoing Fed Chairman Ben Bernanke suggesting in a speech that moderation of the reserves asset purchasing is a possibility should new data in the job market suggest it is heading in the right direction. This comes before the FOMC meetings minutes will be released later today which will undoubtedly lead to volatility as investors attempt to decipher the underlying sentiment of the FOMC. Incoming chair Janet Yellen caused US bourses to sore last week when in her confirmation hearing she gave no mention of tapering. Chairman Bernanke’s speech will keep speculators guessing with regards to whether tapering will occur as soon as December or if it will in fact be as many now suspect occur in March.
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