Yellen's Testimony Leaked Signals To Boost Global Stock Markets

< p style= "text-align: center" > < img border= "0" align= "center" alt= "" src= "" /uploadimages/201311/15/20131115041314_sj.JPG "/" < > > "
< p > Yellen's name is no stranger to financial market. As the current Vice Chairman of the Federal Reserve, she is the current chairman of the a > Bernanke < /a >, and is also one of the promoters of quantitative easing policy. On the 14 day of the local time, Yellen will accept the "torture" of the US Senate, which has made an important step for her to become the Federal Reserve Chairman, but her testimony is leaked earlier. < br / >
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A > Yellen < /a > testified in the testimony that the current US economic growth and the labor market are far from giving full play to their potential. Before the obvious improvement in the economic and labour market, the Fed will not reduce the stimulus of monetary policy. Some analysts said that carefully considering Yellen's remarks on the "a href=" http://sjfzxm.com/news/index_cj.as "Fed monetary policy" /a trend, it is easy to find the support and succession of the incoming first Federal Reserve chairwoman to Bernanke policy. Yellen's testimony also indicates that the possibility that the Federal Reserve began to reduce the scale of quantitative easing (QE) in December has been reduced. < /p >
< p > > a href= "http://sjfzxm.com/news/index_cj.as >" Yellen's testimony < /a > stimulated yesterday's Asia Pacific stock market generally rose, MSCI < a > Asia Pacific index < /a > rose 1%, Japanese stock market Nikkei 225 index rose 2.12%, closed 14876.41 points, the highest since May 24th. European stock markets also opened higher, but the intraday growth rate was somewhat lower than expected in the three quarter of the euro area. In addition, Yellen's testimony also boosted the emerging market currencies, leading the baht and the Indonesian rupiah. < /p >
Gross, President of the bond market, the world's largest bond fund, "a href=" http://sjfzxm.com/news/index_cj.as, "Pacific Investment Management" /a (PIMCO) president, has increased holdings of US Treasury bonds for two consecutive months. He believes that even if the Federal Reserve starts to cut quantitative easing, the yield of US Treasury bonds will not rise. < /p >
< p > it is reported that Bernanke will leave office at the end of January next year. Yellen said that under the leadership of Bernanke, the "a href=" http://sjfzxm.com/news/index_c.asp "fed" /a "provided more and more clear information for its goals. Like Bernanke, monetary policy can be effective only when the public understands the real intentions of the Fed and its specific plans. Bernanke also said yesterday that the more measures the Federal Reserve takes to explain its policy decisions to the public, the more it will enhance the rationality and effectiveness of the Federal Reserve policy. < /p >
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< p > < strong > Yellen's speech to boost gold price, the 1300 pass is still beyond /strong < /p >
< p > gold prices rebounded on second consecutive trading days on Thursday, supported by Fed officials Yellen doves. New York commodity exchange (COMEX) December gold futures contract rose 1.15%, to 1284.6 U.S. dollars / ounce; London spot gold closed at 1286.85 U.S. dollars / ounce, compared with the previous trading day rose 2.05 or 0.16%, the highest hit 1294.15 U.S. dollars / ounce, the lowest to 1278 U.S. dollars / ounce, spot silver at 20.75 U.S. dollars / ounce, compared with the previous trading day rose 0.19%. < /p >
Yellen, vice chairman of the Federal Reserve, attended the hearing of the Senate last night. Last month, the US president "a href=" http://sjfzxm.com/news/index_c.asp "Obama" /a "nominated her as the next chairman of the Federal Reserve." P " Yellen has always been a supporter of quantitative easing measures, and the market basically expects that she will maintain a dovish position. At the hearing, Yellen stressed that we should not rush out of the debt purchase plan. The US economic recovery needs high monetary policy to support it. There is no definite timetable for when to reduce the scale of debt purchase. It all depends on the performance of economic data. Yellen's moderate remarks have boosted gold prices, but due to the lack of new policy intentions, gold prices have risen by a limited margin. < /p >
The US economic data released on Thursday < p > is weaker. Among them, the number of unemployed Jin people rose to 339 thousand last week, estimated at 330 thousand, and the former value was revised from 336 thousand to 341 thousand. In September, the trade deficit expanded to $41 billion 800 million, which is expected to be -390 billion. Weak data also support the Fed's doves' position to help keep gold prices up. Yellen said the weak demand for goods and services seriously dragged the economy down. < /p >
< p > data released by the World Gold Association on Thursday showed that demand for gold in the third quarter of the world decreased by 21% from a year ago to four years low 868.5 tons, compared with 1101.4 tons in the same period last year. The main reason is that the fund has reduced investment in physical gold, and the decline in demand in India has offset the impact of rising sales of jewellery, gold coins and gold bars. < /p >
< p > up to November 14th, the world's largest a > Gold < /a > listed trading fund SPDR Gold Trust's gold holdings were maintained at 865.71 tons compared with the previous trading day, while the largest silver trading listing fund iShares Silver Trust's silver holdings decreased by 50.93 tons to 10392.89 tons during the same period. < /p >
In the last trading day of this week, there are no significant economic indicators and events. It is expected that the gold market will remain volatile in the last trading day of P. On the US side, the data released on Friday are mostly second-line indicators. What is more important is the November New York fed manufacturing index and industrial production in October. In addition, the October import price index and September wholesale sales and inventory, the better than expected data will suppress the gold price, because it will urge the Federal Reserve to withdraw from the process of < a > QE < /a. In addition, the euro area consumer price index in October also needs to be noted. < /p >
Technology, gold prices stabilized at the low point of mid October, and then rebounded, and it is still continuing. The daily index keeps rising, and it is still bullish. However, the gold price has always been maintained below the 1300 pass, and there is no further strong kinetic energy in P. On the 4 hour chart, gold prices are in a short-term upward channel. However, when random indicators enter the overbought area, they have reversed downwards, implying that the gold price is short of upward potential and may maintain high volatility. < /p >