Stock markets had a bullish day yesterday, in which the main markets were buoyed by expectations that the Greek prime minister would overcome the confidence vote in Parliament, the first step to approve reforms to release the section of 12mM. € financial assistance that would prevent the immediate default of Greece. Stock markets also reacted positively to the Juncker statements ensuring that it would initiate a solution to the sovereign debt crisis in Greece.
This morning gold was traded at around 1546.00 per ounce. Note that the precious metal remains a focal point for investors, given the large number of questions regarding the financial environment. Oil trade also proved temporary, as a result of concerns about demand and supply. The commodities markets, except gold, are still showing caution.
The most important reference of the day is the Federal Reserve meeting followed by a Bernanke press conference. Due to the slowing American economy shown by the latest indicators, the most probable scenario is that the Fed confirms its intention to maintain low interest rates over the next few quarters and continue reinvesting the balance of bonds coming to maturity. The vision of the Fed on the evolution of the economy and inflation in the second half and could be decisive backing to the closure of the bags if their estimates of growth in 2011 remain above +3.0% .
Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.