21, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Bernanke supported the dollar. According to his comments the Fed will start folding its support program already this year!

The last meeting has brought a number of important changes. The Fed revised its previous forecasts for the U.S. labor market. If before officials expected that the unemployment rate in the economy of America would fall to only 6.5% in 2015, then by the new estimates, it could happen as early as the next year.

According to new forecasts the U.S. unemployment rate will be 7.2% - 7.3% up to 2013. In 2014, the expected value of 6.5% - 6.8%. It is worth saying that Fed officials called the achievement a level of unemployment at 6.5% one of the keys to curtail the incentive program. In general, members of the Committee also noted "the reduction of the downside risks to the labor market and the economic growth of America."

The Fed estimated growth GDP rate of the U.S. economy in 2014 and 2015. will exceed 3%.

They marked a rather strong reinforcing of the dollar quotations and a sharp rise in long rates (in particular, the ten-year) government bonds in the United States.