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Gold and crude surge after Fed chief’s remark on continuing QE

LAST week Federal Reserve chairman Ben Bernanke rallied the market by hinting that the quantitative easing (QE) would likely be continued.

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Crude prices soar further as dollar weakens

FEDERAL Reserve chairman Ben Bernanke gave his semi-annual report to the US Congress last week, giving assurance that policymakers would not look forward to tighten the monetary policy in foreseeable future. Market interpreted much of his comments as being dovish, which weakened the greenback further. Meanwhile, US unemployment claims dropped to 334,000 and pushed the Dow Jones markets to 14,550 tops again.

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Crude weakens on mixed US economic data

MIXED economic data from US has injected more volatility into the market. American new home sales beat expectations and rose to 497,000 in June.

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Gold remains volatile amid US recovery

The US GDP for the second quarter gained 1.7% and better than forecast, hence injecting investors’ confidence for a potential recovery. The US Federal Reserve, European Central Bank (ECB), and Bank of England (BoE) are keeping the monetary policy and interest rate as status quo amid rumours of tapering stimulus in September. On Friday, American payrolls rose 162,000 in July and below consensus despite unemployment jobs dropping to 7.4% from 7.6% in June.

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US and Europe recovering from recession

THE United States and Europe economy show resilience in recovering from recession.

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Tensions in Syria spike commodities

TENSIONS in Syria dominated the market last week.

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Commodities rebound after US payroll

THE United States beat the war drums louder as Secretary of State John Kerry tried to garner support from European Union ministers for a military action in Syria.

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Market anxious ahead of FOMC meeting

THE US economic performance indicated downward inflation last week.

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Market lacklustre as US Congress begins new debate on debt limit

LAST week, the market was mainly lacklustre and traded in sideways consolidation. The US jobless claims dropped to 305,000 for the week ended Sept 21 while pending home sales declined by 1.6% on monthly basis.

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US government shuts down amid political standoff

THE political deadlock in US Congress forces its federal government to shut down for the first time in 17 years.