Fed President Evans says extended period means 3-4 policy meetings!

Yesterday was a light day in terms of financial data with no major economic reports released from the US. Overall the USD traded weaker, equity markets almost unchanged and commodities such as OIL and Gold closed at $81 and $1115. Fed President Evans was in the [...]

CURRENCY TRADING SUMMARY – 10th March (00:30GMT)
U.S. Dollar Trading (USD) was able to make solid gains in Europe as the Greece fears resurfaced on news Fitch may still downgrade the embattled country. US stocks turned positive however and the market pared back some of the Dollars gains. In US stocks, DJIA +11 points [...]

Jobless claims
The Fed’s Evans ties US monetary policy outlook to the labor market. According to Evans, the Fed will need to keep monetary policy accommodative for quite some time because of the weak US labor market. Evan’s specifically cited the length of unemployment as indicative of a weak labor market. He also appeared to leave [...]

USD: Higher, risk aversion re-emerges on European debt worries
JPY: Higher, supported by a return of risk aversion, leading index rose more than expected
EUR: Lower, concern about Greek debt troubles, ECB’s Stark says debt places strains on monetary policy
GBP: Lower, Moody’s and Fitch warnings on banks and debt, weak housing data, trade deficit widened
CAD [...]

US Market Update
Dow +18 S&P +2.25 NASDAQ 10.3
***Economic Data***
- (US) Feb NFIB Small Business Optimism: 88.0 v 89.3 prior
- (US) ICSC/GS weekly chain store sales w/w March 6th: +2.9% w/w, +3.4% y/y
- (US) Redbook Retail Sales for the week ending Mar 6th: % y/y; MTD % v Feb
- (US) Mar IBD/TIPP Economic Optimism: 45.4 v [...]