Forex, Asia

Posted by: : Paul EbelingPosted on: July 18, 2013 Forex, Asia

The appetite for risk turned optomistic  Wednesday following US Fed Chairman Bernanke’s dovish remarks, as he reiterated the Fed’s plan to start paring its bond-purchase program QE later inn the year, but said that could change if the economic outlook shifted.

The Fed’s “Beige Book” report stated that the US economy continued to grow at a “modest to moderate pace” in June and early July, with manufacturing expanding in most areas of the country.

Most foreign currencies declined after all managed to advance Tuesday. Only the GBP advanced, benefiting from on a united MPC and better than expected UK data.

The US stock markets finished Wednesday with small gains. The Crude Oil/Gold ration rose.

The short-term outlook for most foreign currencies is sideways in here. The medium-term outlook for most of the foreign currencies is sideways. The LGR short-term model is long most foreign currencies. stay tuned…

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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