Archive for July 22nd, 2010

Stress Test Dominates Market Chatter

Risk appetite was pared down during the Asian session as investors chose to focus on Fed Chairman Bernanke’s dovish comments. Bernanke’s semiannual report to Congress basically reiterated the position reported in the FOMC minutes and policy speeches. However, the markets seemed to have latched on the words “we recognize that the economic outlook remains unusually uncertain. We will continue to…

Weakness Extended into Asian Session

G10 Advancers and Decliners vs USD
JPY 0.65
CHF 0.22
EUR 0.21
GBP 0.11
The Nikkei 225 was well in the red this morning (lower by -0.62%) and currencies were stable following yesterday’s selloff against the US Dollar. Triggered by deteriorating risk sentiment on the back of Bernanke’s comments to Congress, the Fed chairman stated “…the economic outlook remains unusually uncertain.” And this surely had the markets shook with investors fleeing to the Greenback,…