Although some reports yesterday of red, but it did not make the USD bulls retreated. Buoyed by Bernanke speech pre-expectations, USD beat almost all pairs except the yen.
You'd think the markets would at least think twice about buying the greenback after seeing yesterday's reports! After all, not only did jobless claims rise to 374,000 (forecasts called for 370.000) last week, but the previous week's record was also revised up from 372.000 to 374.000.
Meanwhile, the core PCE price index registered a 0.0% change in prices last month, roomates is slightly lower than the 0.1% that most analysts had predicted.
Today, the U.S. will release the Chicago PMI which is expected to drop to 53.6, and the revised UoM consumer sentiment report which is expected to rise to 73.7.
But apparently, many economists are anticipating disappointing news from the Fed head. And naturally, because It seems unlikely that the Fed will commit to more easing without Completing its economic forecasts.
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