USD rises after Bernanke's testimony in U.S. Congress

The pair EUR/USD fell after the statement of the Chairman of the Federal Reserve, Ben S. Bernanke, in the U.S. Congress in the meantime under the brand of 1.3100. Also against most other currencies has seen an increase of the USD after Bernanke's statement. The statement left to a wide scope for further speculation about further action by the Fed in the future monetary policy. Although Bernanke stressed that the Fed's loose monetary policy in the event of an early recovery of the economy and the job market very soon the price could tighten, but at the same time he also stressed that the Fed will maintain its measures remain there as the U.S. economy, the fiscal support need. As an important achievement of the goals he called a Jobless-Rate of 6.5% or less and an inflation rate of 2%.

USD decline before Ben Bernake speech in US-Congress tomorrow

Ahead of tomorrow's speech by Ben Bernanke in the U.S. Congress, the speculation increase about that the Fed Chairman will make statements that will dampen suspicions about a speedy retraction of the bond purchases by the Fed. These conjectures were indeed ready weakened in recent weeks by different statements, but the proponents and opponents of a throttling talked about in the balance. Should the chairman of the Fed express a clear signal about the further course tomorrow, this should be attributed a high weight and the markets will react accordingly

A report on Bernanke's testimony you will find tomorrow, after this, here with us.

Preview of important economic events from 14-07-2013 to 19-07-2013

Here we show you a preview of the most important economic events in the next week, which can have a major influence at the Forex-Market.

Aditional to the data, which are mentioned below in the table, coming into this week a variety of data, which are usually individually don't have a large influence on the movement of the market, but when they are published in a timely manner to each other, in the sum could have greater impact. You'll find all this events in the economic calendar.

ECB - Governing Board apparently discussing another rate cut

After the ECB chairman Mario Draghi has already announced in the press conference after the last Governing Board meeting that the main interest in the euro zone will long remain at the current low level, is today reported that it respect during the board meeting heated discussions has been a further reduction in interest rates. According to press reports are part of the Executive Board, to which the chairman Mario Draghi was gone with the demand for a rate cut in the session.

This demand was, mainly from the northern members of the Euro zone, vigorously rejected. Especially the German Bundesbank President Jens Weidemann referred to the major risks that would arise from a further reduction in interest rates. He stressed that the pressure on the countries of the euro zone crisis, continue to drive the reforms of its own economic policy ahead, must be maintained. A further reduction in interest rates would seriously jeopardize this. Ultimately, the opponents of the rate cut prevailed during the meeting and maintaining the interest rate of 0.50% was adopted unanimously.

The discussion of the further cheapening of funding, all the way up to the Executive Board of the ECB, could ensure that the euro is still in the markets in the near future under pressure.