As if now the economy is not displaying any signs of strong improvement as caught by the Fed Chairman Bernanke that the job stood weak with the inflation stress remaining downcast, reconsidering the monetary policy Bernanke restated that the resource utilization rate low, submissive inflation stress and the steady inflation growth are affirming the extension of exceptionally lower level of Fed funds.
Bernanke having an optimistic economic outlook as with the general improvement in the financial condition supported the private demand to grow with the slower pace along with this consumer spending rate picked up possibly due to increase in the real disposable income.
Just the job market failed to perform as per the expectation rest other sectors displayed progress in one or the other form conveying Fed authorities that the decision of raise in discount rates will continue in the March Policy Statement as well.
Turning towards currency pairs exchange market in the European Forex session EUR/USD failed to get over the lows of 1.3450 moving ahead with the current resistance of around 1.3530.
At the same time USD/JPY opened at the Forex market with the trade level of 90.28, traded at the higher level of 90.35 and the lows of 89.21 while the level reached to 90.14 at the closing of the Forex session.
While the GBP/USD broke the lower level of 1.5343 and is under the trade zone of 1.5276 and is indicating about the bearish trade pressure in the coming days at the forex trading platform.
Finexo economic calendar can provide traders the relevant data related to the upcoming market trends and the value of currency pairs at the trading platform.