The Federal Reserve Chairman Ben Bernanke spoke Friday, and essentially said he believes the economy is still growing (albeit limited) and now the Fed needs to implement a new round of economic stimulus. Their comments were very beneficial to Wall Street and thus the major indexes ended the week higher. However, even considering that there are several that are still skeptical, they again won the gold value and this morning is trading at around 1831.00 per ounce.
The outlook for the European currency remains somewhat murky, as the director of the IMF, Christine LeGarde, spoke about the need to recapitalize European banks and added that the luxury of time there.
For its part, the commodity market remains unstable, while oil leads the group with an established trade. It should be noted that oil had to face some obstacles in response to the negative global economic outlook.
Japanese Prime Minister elect, Noda has been very active this morning, saying he is aware of the fiscal situation and the strong yen, and intends to announce measures to counter the yen's appreciation after forming a new government.
